Tag: growth
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Innovation-Driven Growth: Nobel Laureates Explain Sustained Economic Progress
From stagnation to ongoing growth: what really drives progress Over the last two centuries, the world has witnessed unprecedented economic growth. This ascent rests on a steady stream of technological innovation and the ability for new ideas to replace older methods—a process economists describe as creative destruction. The 2025 Nobel Prize in Economic Sciences was…
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Nobel Prize in Economics Awarded for Innovation-Driven Growth Insight
Nobel Prize Highlights for Innovation-Driven Growth The Royal Swedish Academy of Sciences announced the 2025 Nobel Prize in Economic Sciences, awarding Joel Mokyr, Philippe Aghion and Peter Howitt for their influential work on innovation-driven growth. The trio’s research illuminates how technological breakthroughs, creative destruction, and institutional context propel sustained economic expansion. The prize, formally known…
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Innovation-Driven Growth: From Stagnation to Sustained Economic Progress
Introduction: Why sustained growth matters Over the last two centuries, the world has seen unprecedented economic progress, driven by a continuous flow of technological innovation. This process—often described through the lens of creative destruction—replaces old technologies with better ones, enabling living standards to rise steadily. The Nobel Prize in Economic Sciences this year highlights three…