# The 2025 Sveriges Riksbank Prize in Economic Sciences has been awarded to Americans Joel Mokyr and Peter Howitt, and Britain’s Philippe Aghion. Mokyr is recognised for linking technological progress to sustained growth, while Howitt and Aghion are honoured for their creative destruction theory, showing how innovations replace old products and increase productivity. The Nobel Committee’s John Hassler says the laureates’ work highlights the importance of innovation in improving living standards and sustaining global economic growth:
Three economists win 2025 Sveriges Riksbank Prize for unlocking secrets of sustained growth [SOUND]
ENG HasslerOnEconomicSciences2025