The sources of sustainable growth (Nobel Memorial Prize in Economic Sciences 2025)

The 2025 Nobel Memorial Prize in Economic Sciences was awarded to Philippe Aghion, Peter Howitt, and Joel Mokyr for their research on innovationdriven economic growth. One half of prize was devoted to Joel Mokyr for having identified the prerequisites for sustained growth through technological progress and the other half jointly to Philippe Aghion and Peter Howitt for the model of sustained growth through creative destruction. The paper discusses theoretical contribution of the laureates in understanding the deep sources of modern economic growth. It also provides the short survey of the results of their research in areas of endogenous growth theory, understanding the Great Enrichment phenomenon, technological, institutional and cultural change.