The Royal Swedish Academy of Sciences awarded the 2025 Nobel Prize in Economics to Joel Mokyr (USA), Philippe Aghion (France), and Peter Howitt (Canada) for their pioneering work on the relationship between technology and economic growth.

According to the committee, their research “enhanced understanding of innovation dynamics and their impact on productivity and sustainable development.” The laureates share a prize worth $1.16 million, to be presented on December 10.