00:00The Royal Swedish Academy of Sciences has today decided to award
00:04Sveriges Rikbank Prize in Economic Sciences in Memory of Alfred Nobel
00:09for 2025 to Joel McHugh, Nordwestern University, USA
00:15Philippe Agion, Collège de France and INSEAD, France
00:20and London School of Economics, UK
00:24and Peter Howitt, Brown University, USA
00:28for having explained innovation-driven economic growth
00:33With one half, the prize goes to Joel McHugh
00:37for having identified the prerequisites for sustained growth
00:42through technological progress
00:44and the other half jointly to Philippe Agion and Peter Howitt
00:49for the theory of sustained growth through creative destruction
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