3 share Nobel Prize in Economics for work on technology, growth and creative destruction
Summary
Three researchers won the Nobel Prize in Economics for their work on technology, economic growth, and a concept called "creative destruction." These researchers are Joel Mokyr, Peter Howitt, and Philippe Aghion. They studied how technological changes drive economic developments and how societies can handle these changes.Key Facts
- The Nobel Prize in Economics was awarded to Joel Mokyr, Peter Howitt, and Philippe Aghion.
- They are recognized for their work on technology and economic growth.
- The concept of "creative destruction" involves old technologies being replaced by new ones.
- The winners will share a prize of 11 million Swedish kronor, around $1.2 million.
- Joel Mokyr is known for his theory on technological change and economic growth over two centuries.
- Howitt and Aghion expanded on Mokyr's work, focusing on "creative destruction."
- The winners received their doctorate degrees from U.S. universities.
- During the awards, there was a caution about protectionist trade policies impacting growth.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.