What is the defining characteristic of capitalism? Some say profit. Others, private ownership. Still others, rapacity. Considering that capitalism may have begun as early as the 16 th century, in ...

A trio of scientists Joel Mokyr, Peter Howitt, and Philippe Aghion has been awarded with the 2025 Nobel economics prize for their groundbreaking work on “creative destruction” theory. The prestigious ...

The 2025 Nobel Prize in Economics feels less like an intellectual honour and more like the next chapter in a continuing conversation about how economies grow. The combined message of Joel Mokyr ...

This year’s Nobel Prize for Economics, which was given to three people who studied innovation and creative destruction, may well have some implications for the understanding of our economy. We appear ...