Economists from the US, Britain and France were awarded this year’s Nobel Memorial Prize in economics on Monday, the final award of this year’s Nobel week.
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.
The prize was awarded at a ceremony in Stockholm and is the final Nobel of this year’s prize season, with prizes for peace, medicine, physics, chemistry and literature revealed last week.
Mokyr, Aghion and Howitt’s work, spanning economic history, theoretical models, and empirical analysis, has reshaped how economists, policymakers and researchers approach the mechanisms behind technological progress and prosperity.
Dutch-born US citizen Mokyr is a professor of economics and history at Northwestern University, France-born Aghion is Centennial Professor at the London School of Economics, while Howitt is a professor in social sciences at Brown University.
The economics prize is formally known as the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel.
The central bank established it in 1968 as a memorial to the 19th-century Swedish industrialist who invented dynamite. Nobel went on to establish the five Nobel Prizes.
The economics prize has since been awarded 56 times to a total of 96 laureates, only three of them women.
Last year’s award went to the US-based trio Daron Acemoglu, Simon Johnson and James A. Robinson for their research on how freer, more open societies are more likely to prosper economically.
The prize has seen criticism over the high volume of Western male laureates, with only three of the 96 previous winners being women.
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