The Economics of Perpetual Progress: Analysis of the 2025 Nobel Prize in Economic Sciences

The 2025 Nobel Prize in Economic Sciences was jointly awarded to Joel Mokyr, Philippe Aghion, and Peter Howitt for their pioneering research explaining the mechanisms of sustained economic growth. Their collective work bridges history and theory, revealing how innovation, knowledge creation, and institutional openness drive perpetual progress. Mokyr traced the historical evolution of “useful knowledge” from the Enlightenment to modern growth, while Aghion and Howitt formalized the process of “creative destruction” that fuels technological advancement. Together, they provide a comprehensive understanding of how societies escape stagnation and sustain prosperity through continuous innovation, adaptation, and inclusive institutional frameworks.

• Publication year

  2025

• Venue

  Advanced International Journal for Research

• Publication date

  2025-11-02

• Fields of study

  Not labeled

• Identifiers
  DOI 10.63363/aijfr.2025.v06i06.1647
• External record

  Open on Semantic Scholar

• Source metadata

  Semantic Scholar

• No claims are published for this paper.

• No concepts are published for this paper.

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