Core Insights - The 2025 Nobel Memorial Prize in Economic Sciences is awarded to Joel Mokyr, Philippe Aghion, and Peter Howitt for their contributions to understanding how innovation drives economic growth [1][2] Group 1: Contributions of the Awardees - Mokyr's research emphasizes the interaction between technology, culture, and institutions, revealing how these elements influence sustained innovation [1][3] - Aghion and Howitt developed mathematical models that illustrate how innovation replaces outdated structures in a competitive environment, thereby promoting economic growth [1][3] - Their combined theoretical framework provides insights for policymakers on fostering an environment conducive to innovation [1][2] Group 2: Economic Context - The Royal Swedish Academy of Sciences highlights that the last two centuries have seen unprecedented continuous economic growth, lifting many out of poverty [1][2] - The research of the awardees serves as a reminder that economic growth relies not only on technological innovation but also on the supportive institutional and policy frameworks [2][3] Group 3: Prize Distribution and Background of Awardees - The total prize amount is 11 million Swedish Krona (approximately 8.25 million RMB), with Mokyr receiving half and Aghion and Howitt sharing the other half [2] - Mokyr, born in 1946 in the Netherlands, has focused on the relationship between culture, ideas, and technological change during the Industrial Revolution [2][3] - Aghion, born in 1956 in France, and Howitt, born in 1946 in Canada, have contributed significantly to the understanding of market competition and innovation mechanisms through their collaborative research [3]

Core Points - The Royal Swedish Academy of Sciences awarded the 2025 Economic Sciences Prize to Joel Mokyr, Philippe Aghion, and Peter Howitt for their contributions to understanding economic growth driven by innovation and creative destruction [1][2] - The total prize amount is 11 million Swedish Krona (approximately 8.25 million RMB), with half awarded to Mokyr and the other half shared between Aghion and Howitt [1] Group 1 - Joel Mokyr's work explains how innovation drives economic growth and identifies technological progress as a prerequisite for sustained growth [1] - Philippe Aghion and Peter Howitt are recognized for their theories on achieving sustained growth through creative destruction [1] - The Nobel Committee highlights that the past two centuries have seen unprecedented continuous economic growth, lifting many out of poverty and laying the foundation for global prosperity [2] Group 2 - The committee emphasizes that technological advancements rapidly influence all aspects of life, replacing old products and methods, which is fundamental to ongoing economic growth [2] - It is noted that stagnation has been the norm throughout human history, with significant technological advancements occurring sporadically [2] - The committee warns that creative destruction can create conflicts that must be managed constructively to prevent innovation from being hindered by established companies and interest groups [2]

Core Viewpoint - The 2025 Nobel Prize in Economic Sciences has been awarded to Joel Mokyr, Philippe Aghion, and Peter Howitt for their contributions to understanding innovation-driven economic growth and the theory of creative destruction [6][7]. Group 1: Award Recipients - Joel Mokyr, born in 1946 in the Netherlands, is a professor at Northwestern University and received his PhD from Yale University in 1974 [1]. - Philippe Aghion, born in 1956 in Paris, is a professor at the Collège de France, INSEAD, and the London School of Economics, having obtained his PhD from Harvard University in 1987 [3]. - Peter Howitt, born in 1946 in Canada, is a professor at Brown University and received his PhD from Northwestern University in 1973 [5]. Group 2: Prize Details - The total prize amount is 11 million Swedish Krona (approximately 8.25 million RMB), with half awarded to Mokyr and the other half shared between Aghion and Howitt [6]. Group 3: Contributions to Economic Theory - Mokyr's work emphasizes that innovation is a prerequisite for sustained economic growth, while Aghion and Howitt focus on how creative destruction facilitates this growth [6]. - The Nobel Committee highlights that the past two centuries have seen unprecedented continuous economic growth, lifting many out of poverty and laying the foundation for global prosperity [6]. - The committee notes that technological advancements rapidly influence all aspects of life, replacing old products and methods, which is essential for ongoing economic growth and improved living standards [6]. Group 4: Challenges and Management - The Nobel laureates illustrate that economic growth should not be taken for granted and that the mechanisms behind creative destruction must be maintained to avoid stagnation [7]. - John Hassler, chairman of the Economic Sciences Prize Committee, stresses the importance of managing the conflicts created by creative destruction constructively to prevent innovation from being hindered by established companies and interest groups [6][7].