Joel Mokyr has warned of ‘dark clouds’ amid Trump tariffs, while Philippe Aghion and Peter Howitt have written about role of ‘creative destruction’
Joel Mokyr has warned of ‘dark clouds’ amid Trump tariffs, while Philippe Aghion and Peter Howitt have written about role of ‘creative destruction’
Three experts in the power of technology to drive economic growth have been awarded this year’s Nobel prize in economics.
Joel Mokyr of Northwestern University secured half of the 11m Swedish kronor (£867,000) prize, with the rest split between two other academics: Philippe Aghion of the Collège de France, Insead business school and the London School of Economics; and Peter Howitt of Brown University.
Announcing the prize against a backdrop of rapid development in artificial intelligence and fierce debate over its impact on society and living standards, the Royal Swedish Academy of Sciences said the trio had pioneered the explanation of “innovation-driven economic growth”.
