Mokyr, Aghion and Howitt Win 2025 Nobel in Economics

The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for 2025 has been awarded to Joel Mokyr, Philippe Aghion, and Peter Howitt. As announced by the Royal Swedish Academy of Sciences, the highest honor was awarded to them "for explaining innovative economic growth."

This prize, often mistakenly called simply the "Nobel," was established in 1968 and first awarded in 1969, following the rest of the rules of the Nobel Prizes. The selection process for the laureates is quite long: the nomination of candidates lasts from September to January, after which the Royal Swedish Academy of Sciences, with the support of a special committee, decides the winners by vote in October. Members of the academy, previous years' laureates, and professors from a number of European universities have the right to nominate candidates.

The first laureates were Ragnar Frisch and Jan Tinbergen for their contributions to the modeling of economic processes. Throughout its existence, the prize has been awarded to 93 scientists, including only three women. Among the laureates are also scientists of Russian origin: Simon Kuznets, Wassily Leontief, and Leonid Kantorovich.

It is worth noting that last year, the prize in economics was awarded to Daron Acemoglu, Simon Johnson, and James Robinson for their research on the differences in the prosperity of nations.