Three academics, Joel Mokyr, Philippe Aghion, and Peter Howitt, will share the 2025 Nobel Prize for economics for their work on the role of innovation in generating economic expansion.

A winner of this year’s Nobel prize in economics warned Monday that artificial intelligence offers "amazing possibilities" but should be regulated because of its job-destroying potential.

Howitt and Aghion received the honor for their endogenous growth model developed in the late 1980s. Mokyr was recognized for his research on the link between knowledge and economic growth.

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 England, it took a long time for us to come up with the most ...

Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author. Austrian economist Joseph Schumpeter's concept of creative destruction refers to the process by which innovation in the economy results in the ...

My guess is that average literate Americans know of three 20th-century economists: John Maynard Keynes, Milton Friedman, and Alan Greenspan. Perhaps they also know of Paul Samuelson (but as textbook author, not economic theorist), of Friedrich Hayek (but ...

More than 60 years ago, research by the economist Robert Solow highlighted the importance of innovation for growth but shed little light on how to generate that innovation. Aghion, Antonin, and Bunel, who are responsible for much subsequent research in ...

When drastic disruptions bring new political leaders, policymakers respond with major changes. We’re living in such a time, even if it’s not clear how much a pandemic, rampant inflation, international strife and other events of the past half-decade ...