management

The 2025 Nobel Prize in Economics – On Innovation

The 2025 Nobel Prize in Economics was awarded to Joel Mokyr, Philippe Aghion, and Peter Howitt for explaining innovation-driven economic growth. THEIR WORK Joel Mokyr showed that progress happens when knowledge connects knowledge. He distinguished between propositional knowledge (understanding why things work) and prescriptive knowledge (knowing how to make them work). His deeper message: innovation

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