Three Awarded 2025 Nobel Prize for Economics

OCT 13 2025·Updated OCT 14 2025

Story

Above: Joel Mokyr, Philippe Aghion and Peter Howitt were announced as the 2025 Nobel Prize laureates in Economics at the Royal Swedish Academy of Sciences in Stockholm, Sweden, on Oct. 13, 2025. Image credit: Jonathan Nackstrand/Contributor/AFP/Getty Images

The Facts

Joel Mokyr, Philippe Aghion, and Peter Howitt were on Monday awarded the 2025 Nobel Memorial Prize in Economic Sciences for their contributions to innovation-driven economic theory.
Reuters
Dw.Com
The Associated Press on Youtube
Mokyr received half the prize for identifying prerequisites for sustained growth through technological progress, while Aghion and Howitt shared the other half for their theory of sustained growth through creative destruction.
Reuters
Guardian
The laureates demonstrated that economic stagnation, not growth, has been the norm for most of human history, and their work shows society must counteract threats to continued growth to avoid returning to stagnation.
CNBC
Toronto Sun
Aghion expressed shock at receiving the honor and criticized protectionist policies, stating he was not welcoming the protectionist wave in the U.S. due to its implications for world growth and innovation.
CNN
The Associated Press
The economics prize was established in 1968 by Sweden's central bank as a memorial to Alfred Nobel and has been awarded 57 times to 99 laureates, with only three women among previous winners.
Dw.Com
The Business Times
Last year's economics award went to U.S.-based academics Daron Acemoglu, Simon Johnson and James Robinson for research exploring how freer, more open societies are more likely to prosper economically.
CNBC
Daily Sabah

Sources Split

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The Spin

Narrative A

Technological innovation through creative destruction powers sustained economic growth, transforming societies by replacing outdated methods with superior ones and boosting living standards everywhere. Societies thrive when open to change, linking scientific knowledge with practical applications to fuel endless progress. Embracing this process ensures prosperity lifts billions out of poverty without fail.

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Narrative B

Protectionist policies, such as those in the U.S., hinder global innovation and economic growth by restricting competition essential for transformative change. Embracing free trade is vital for fostering innovation and preventing economic stagnation.

CNN

France 24

CBC

Narrative C

Protectionist policy intends to set taxes on imports and subsidize goods that the market doesn't produce naturally. It's a realistic and geopolitically sound approach to economics, espoused by leaders including Abraham Lincoln. The true nuances and benefits of protectionism are frequently misunderstood.

National Review