Stockholm: The Royal Swedish Academy of Sciences announced that Philippe Aghion, Peter Howitt, and Joel Mokyr have been awarded the 2025 Nobel Prize in Economics for their research on the impact of technology on sustainable economic growth.

According to Qatar News Agency, the Prize Committee explained that Joel Mokyr received half of the prize for his discovery of the underlying factors of sustainable growth through technological progress. The other half of the prize was shared by Philippe Aghion and Peter Howitt for their theory of sustainable growth through creative destruction.

The announcement of the Nobel Prize in Economics concludes the list of Nobel Prizes for 2025. John Hasler, Chairman of the Prize Committee, noted that the laureates' work provided fundamental answers to how technological innovation drives growth and how it can be sustained.

It is worth noting that 56 economists have won the Nobel Prize in Economic Sciences since its official establishment in 1969. The youngest laureate was 46 years old, Esther Duflo, who won it in 2019, while the oldest laureate was Leonid Hurwicz, who was 90 years old, in 2009.

The Nobel Prize in Economics is officially known as the Sveriges Riksbank Prize in Economic Sciences and was established by the Swedish central bank in memory of Alfred Nobel. It is the last prize awarded each year in the Nobel Prize series, and the prize is worth 11 million Swedish kronor (USD 1.2 million).