Peter Howitt Wins Nobel Prize in Economics
Western graduate and honorary professor Peter Howitt, MA'69, has been awarded the Nobel Prize in Economics jointly with Joel Mokyr and Philippe Aghion.
Howitt, who was a faculty member at Western for nearly 25 years, was recognized for his work on creative destruction, a theory that describes how innovation fuels economic growth through the rise of new industries and the decline of outdated ones.
It was the "dream of a lifetime,"
he told reporters, after being awarded the 2025 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.
- Peter Howitt, MA'69, awarded Nobel Prize in Economics
- Jointly awarded with Joel Mokyr and Philippe Aghion
- Recognized for work on creative destruction and innovation-driven economic growth
Author's summary: Peter Howitt wins Nobel Prize in Economics for creative destruction theory.
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