The Economics of Growth
The question of why some nations prosper while others lag behind is one of the oldest and most consequential in economics.
The answer to this question holds the key to human progress, as decoding the secret to prosperity could change the quality of life for billions almost overnight.
The Nobel Prize in Economics
This year's Sveriges Riksbank Prize in Economic Sciences, often referred to as the Nobel Prize in Economics, honors three scholars: Philippe Aghion, Peter Howitt, and Joel Mokyr.
Their collective work offers not just theory, but a blueprint for action: how nations can foster innovation, unlock productivity, and sustainably improve living standards.
From Stagnation to Sustained Growth
For most of human history, stagnation was the norm, with output barely growing and living standards hovering near subsistence.
However, the work of Aghion, Howitt, and Mokyr provides a framework for understanding what drives long-term growth and how nations can promote prosperity.
Author's summary: Understanding the economics of growth is key to human progress.
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