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Wednesday, October 22, 2025
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Education

The Economics Nobel 2025: Lessons In Creative Destruction And Innovation That Bharat Cannot Ignore

Web Desk
Web Desk

“The Economics Nobel 2025: Lessons In Creative Destruction And Innovation That India Cannot Ignore”, Swarajya, October 19, 2025

“The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2025 was awarded on 13 October to Joel Mokyr, Philippe Aghion and Peter Howitt, for having explained innovation-driven economic growth.

While Mokyr received recognition for his work on identifying the prerequisites for sustained growth through technological progress, Aghion and Howitt received the same for modelling the theory of creative destruction and taking forward the work of famed political economist Joseph Schumpeter notably his very popular book, Capitalism, Socialism and Democracy published in 1942.

This year the prize recognised the fact that innovation is a critical endogenous element of economic growth and has been one of the key defining factors for economic development in the modern era. In the context of the Indian economic and political landscape this fact offers significant lessons for the future……”

Read full article at swarajyamag.com

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