Economic Sciences

“for having explained innovation-driven economic growth” Did you know? This is the one “Nobel” that Alfred Nobel didn't create. Sweden's central bank set it up in 1968 in his memory. Half went to economic historian Joel Mokyr, who studied why growth took off after the Industrial Revolution. The other half went to Philippe Aghion and Peter Howitt, whose 1992 model turned Joseph Schumpeter's idea of “creative destruction” into mathematics: new firms and technologies keep replacing old ones.

1. Joel Mokyr
   Joel Mokyr

   1/2 — “for having identified the prerequisites for sustained growth through technological progress”
   Laureate
2. Philippe Aghion
   Philippe Aghion

   1/4 — “for the theory of sustained growth through creative destruction”
   Laureate
3. Peter Howitt
   Peter Howitt

   1/4 — “for the theory of sustained growth through creative destruction”
   Laureate