On the morning of October 13th, Joel Mokyr woke up curious: he wanted to know who had won the 2025 Nobel Prize in Economic Sciences (the so-called Nobel Prize in Economics). He turned on his computer, ready to read the news, when he noticed an email congratulating him—oddly, it wasn't his birthday. He picked up his cell phone and saw a missed call from Sweden. Then he realised: the laureate was himself.
Along with Mokyr, Philippe Aghion and Peter Howitt share what is likely the most prestigious (and well-paid) award a researcher can receive in their career for having "explained innovation-driven economic growth."
Joel Mokyr was awarded "for having identified the prerequisites for sustained growth through technological progress." Philippe Aghion and Peter Howitt, two longtime colleagues (and friends), were awarded for "the theory of sustained growth through creative destruction."
Mokyr, Aghion, and Howitt's theories explain that sustained economic growth results from continuous technological innovation, but also that conditions for constant and inclusive progress must exist, including open institutions, quality education, investment in science, and freedom to undertake and experiment. The combination of these conditions creates more opportunities, better jobs, and a higher quality of life. Still, it must be accompanied by policies that reduce inequalities and mitigate adverse effects so that society as a whole benefits. Together, Mokyr and Aghion & Howitt's theories help us understand how technological innovation generates continuous growth and what is needed to maintain it. However, these researchers also warn that this process is not inevitable: it can be threatened by excessive monopolies, resistance to change, inequality, or obstacles to the free flow of ideas.
Economists Philippe Aghion and Peter Howitt, inspired by Schumpeter, demonstrated that companies invest in research and development (R&D) to create more advanced products and processes, thereby displacing previous market leaders. This innovation process leads to "creative destruction"—creative because it generates progress, destructive because it renders previous products and companies obsolete —something that is the engine of sustained growth.
At CCG/ZGDV, we take these theories very seriously and, every day, we contribute to technological development and support society in transforming these technologies into innovations that improve the lives of all. Through our R&D projects, advanced training, and technology transfer, CCG/ZGDV transforms scientific knowledge into technological innovation, advancing digital and computing technologies and contributing to a more competitive, sustainable economy. By encouraging collaboration between researchers, companies, and public entities, CCG/ZGDV stimulates the exchange of ideas and experimentation, precisely as Mokyr describes. At CCG/ZGDV, we dedicate ourselves every day to advancing a future in which innovation, adaptation, and knowledge are the foundations of economic and social progress.
