Core Viewpoint - The Nobel Prize in Economic Sciences was awarded to Joel Mokyr, Philippe Aghion, and Peter Howitt for their contributions to understanding innovation-driven economic growth [1][4]. Group 1: Joel Mokyr's Contributions - Mokyr received half of the 11 million Swedish Krona prize for his discovery of the prerequisites for sustained growth through technological advancement [4]. - His research focuses on why the Industrial Revolution occurred in 18th century Western Europe rather than elsewhere, proposing a new theoretical framework centered on knowledge as the core of economic growth [8]. - Mokyr distinguishes between two types of knowledge: "propositional knowledge" (knowledge about natural laws) and "procedural knowledge" (knowledge about how to do things), arguing that their interaction in modern Europe prepared fertile ground for technological application [8]. Group 2: Cultural and Political Insights - Mokyr's theory of "growth culture" explores the complex interactions between culture, ideas, and institutions leading to the Industrial Revolution, emphasizing the importance of a competitive "market of ideas" in Europe compared to a more controlled intellectual environment in China [9][11]. - He argues that the fragmented political landscape in Europe fostered competition among thinkers, which was crucial for continuous innovation, contrasting it with the more centralized control in China that limited knowledge innovation [11]. - Mokyr highlights that the cultural shift in 18th century Europe towards valuing scientific knowledge and its application was essential for the conditions that led to the Industrial Revolution [11]. Group 3: Contemporary Relevance - Mokyr's research provides a framework for understanding current technological transformations, emphasizing that breakthroughs in fields like artificial intelligence and biotechnology stem from long-term knowledge accumulation and advancements in basic sciences [12]. - The key to a society's long-term prosperity lies in its ability to stimulate, absorb, and adapt to technological innovations, necessitating an ecosystem that encourages exploration and supports basic scientific research [12]. - Mokyr warns against a Eurocentric view of history, advocating for an understanding of diverse developmental paths and the importance of nurturing a cultural environment conducive to innovation [13].

Core Points - The Nobel Prize in Economic Sciences for 2025 was awarded to Joel Mokyr, Philippe Aghion, and Peter Howitt for their contributions to the understanding of innovation-driven economic growth [1] - Mokyr received half of the 11 million Swedish Krona prize for his discovery of the prerequisites for sustained growth through technological advancement [5] Group 1: Mokyr's Background - Joel Mokyr was born on July 26, 1946, in Leiden, Netherlands, and faced significant personal challenges early in life, including the loss of his father and the impact of his mother's experiences during the Holocaust [5] - He studied economics and history at Hebrew University in Jerusalem, earning his bachelor's degree in 1968, and later obtained a Ph.D. from Yale University in 1974 [6] Group 2: Theoretical Contributions - Mokyr's research focuses on why the Industrial Revolution occurred in 18th-century Western Europe rather than elsewhere, proposing a new theoretical framework that emphasizes knowledge as central to economic growth [7][8] - He distinguishes between two types of knowledge: "propositional knowledge" (knowledge about natural laws) and "procedural knowledge" (knowledge about how to do things), arguing that their interaction in modern Europe prepared the ground for technological advancements [8] Group 3: Cultural Perspectives - Mokyr introduced the concept of "growth culture," exploring the complex interactions between culture, thought, and institutions leading to the Industrial Revolution [9][11] - He contrasts the competitive "market of ideas" in fragmented Europe with the more controlled cultural changes in China, highlighting the importance of an open and competitive intellectual environment for sustained innovation [11] Group 4: Contemporary Relevance - Mokyr's work provides a framework for understanding current technological transformations, emphasizing that breakthroughs in emerging technologies stem from long-term knowledge accumulation and foundational scientific advancements [12] - He advocates for an innovation ecosystem that encourages exploration, tolerates failure, and supports basic scientific research, which is crucial for long-term societal prosperity [12]