Stockholm: Joel Mokyr, Philippe Aghion and Peter Howitt won the 2025 Nobel economics prize for \"having explained innovation-driven economic growth\", the Royal Swedish Academy of Sciences said on Monday.

The prestigious award, formally known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, is the final prize to be given out this year and is worth 11 million Swedish crowns ($1.2 million).

\"The laureates have taught us that sustained growth cannot be taken for granted,\" the prize-awarding body said in a statement. Economic stagnation, not growth, has been the norm for most of human history. Their work shows that we must be aware of, and counteract, threats to continued growth.\"

Mokyr is a professor at Northwestern University, in Evanston in the United Sta

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