Joel Mokyr, Philippe Aghion and Peter Howitt won the Nobel memorial prize in economics Monday for “having explained innovation-driven economic growth.”

The Nobel Memorial Prize in Economic Sciences was awarded on Monday to Joel Mokyr at Northwestern University, Philippe Aghion at INSEAD and the London School of Economics and Peter Howitt of Brown Un...

Mokyr showed the cultural and intellectual roots of progress, while Aghion and Howitt modelled “creative destruction”, the cycle where new ideas reshape and renew economies.