Laureates Highlight Innovation's Role in Economic Growth
Royal Swedish Academy of Sciences awarded 2025 prize to Mokyr, Aghion, Howitt. Laureates linked innovation to sustained economic growth. Mokyr analyzed Industrial Revolution for growth prerequisites. Aghion and Howitt developed creative destruction model. Academy called their work 'profoundly influential'. Hassler warned against undermining creative destruction. Prize established in 1968 by Bank of Sweden. 56 awards given to 96 laureates annually on Dec 10