— Pushpendra Singh and Archana Singh

Each year, when the Royal Swedish Academy announces the Sveriges Riksbank Nobel Prize in Economic Sciences in Memory of Alfred Nobel, the moment invites quiet reflection. The award points to the questions that the discipline of economics finds most important at the given time: sometimes it is the design of markets, sometimes questions of inequality, sometimes the institution and psychology behind the choice.

Yet, a pattern runs through these shifting emphasis . The Nobel keeps returning to one theme that economics cannot leave behind – growth. But what does growth exactly mean – is it something that can only be measured in numbers, is it a story of renewal, or is it about knowledge and innovation?

Growth as a story of renewal

Growth cannot be m

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