Refernce to Reuters. “Joel Mokyr, Philippe Aghion, and Peter Howitt won the 2025 Nobel Prize in Economics for driving global economic growth.”

Their articles demonstrate how new technologies develop more qualitative products and enhance production processes, substituting old systems and making the life of people living all over the world healthier, richer, and more pleasant.

Research Findings Economic Development, Hazards.

The Royal Swedish Academy of Sciences clarified the fact that economic growth is never guaranteed. The authors of Mokyr, Aghion and Howitt article expose the dangers of stagnation and how the societies must protect development.

The laureates also warned on the policies that undermine a scientific inquiry or even learning that would slow down the innovation process and reduce future prosperity.

To Scientific Surveillance, Joel Mokyr appeals.

Mokyr, a professor at Northwestern University, observed the threat that U.S. had to lose its scientific dominance under President Trump. He gave an example of failures in China with limitations on research.

By stating that it could be catastrophic, he was comparing the past experiences with the present and that this confined education and science will hold a bigger important than the advancement, by the Reuters.

Philippe Aghion Trade and Europe Future.

In an invitation to the College de France, INSEAD and LSE Aghion warned that tariffs and de-globalization hinder growth. His Europe was encouraged to learn the U.S and China strategies with the balanced approach to the competition and industrial policy.

Transparency increases market, sharing of ideas and there is strengthening of innovation as Aghion commented. He has made it clear that Europe must adapt to be a player in AI, biotech and climate technologies.

Peter Howitt Denounces U.S. Policies in production.

Howitt who was a professor at Brown University criticized a plan by Trump who wanted to revive the manufacturing industries. He described how tariffs make markets smaller and limit the possibilities of innovations and pointed out that in world trade, it is necessary to specialize.

In his view, the U.S would specialise in designing products and leave others to make products that would offer the highest economic growth and innovation.

Context and Prize Details

It has a 11 million Swedish crowns reward (approximately 1.2 million dollars) in the form of the 2025 Economics Prize, also known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. Mokyr was to be half and Aghion half and Howitt half.

This will be the final Nobel Prize in 2025 and we are going to have a Nobel Prize in medicine, physics, chemistry, peace and literature being announced. It highlights the global relevance of the growth that is founded on innovations.

Nobel Prizes. Nobel Prize Legacy in Economics.

Since 1969, the economics prize has been given to honor the great works that have shaped the world economies. The past winners of the laureates include Ben Bernanke, Paul Krugman and Milton Friedman. The tradition is perpetuated using the 2025 winners who equate innovation to prosperity.

Their findings are valuable lessons to policy formulators, firms and academics as only openness, competition and investment in science will remain growth sustaining.

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