Mon Oct 13 12:16:39 UTC 2025: Okay, here’s a news article based on the text provided:
**”False Nobel” Awarded for Work on Innovation’s Role in Economic Growth**
STOCKHOLM – The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, often dubbed the “false Nobel” by critics, has been awarded to Joel Mokyr, Philippe Aghion, and Peter Howitt for their contributions to understanding innovation-driven economic growth. The Royal Swedish Academy of Sciences announced Monday that the 2025 prize recognizes the trio’s work in explaining how technology has fueled sustained economic advancement, lifting vast numbers of people out of poverty.
Joel Mokyr, of Northwestern University, will receive half of the 11 million Swedish kronor ($1.2m) prize money for his historical research into the Industrial Revolution. His work demonstrates that sustained growth relies on understanding the underlying principles of technologies, not just their observable effects.
Philippe Aghion (College de France and The London School of Economics) and Peter Howitt (Brown University) will share the other half of the prize. Their research focused on the theory of “creative destruction,” a concept where new products and processes displace older ones, driving economic progress. In a pivotal 1992 article, they developed a mathematical framework for this idea, popularized earlier by economist Joseph Schumpeter.
The economics prize concludes this year’s Nobel season, which has already recognized advancements in areas such as the human immune system and quantum mechanics. Notably, Venezuelan opposition leader Maria Corina Machado was awarded the Nobel Peace Prize, surprising many by dedicating it to former U.S. President Donald Trump.
It’s worth noting that the economics prize differs from the original Nobel Prizes established in Alfred Nobel’s will. It was created in 1968 by a donation from the Swedish central bank, leading some to question its status as a true Nobel.
First Piper 