Trio of researchers share Nobel in economics for “explaining innovation-driven growth”

The 2025 Nobel economics prize went to Joel Mokyr, Philippe Aghion, and Peter Howitt for “explaining innovation-driven growth”.  They are credited with quantifying “creative destruction”, an idea that innovations such as steam engines and artificial intelligence that push out older technologies and businesses can be beneficial to humanity in the long run. Plus, in an unprecedented move, the Dutch government took control of Chinese-owned chipmaker Nexperia over national security concerns.