Brown University Professor Peter Howitt Wins Nobel Prize in Economic Sciences

Brown University economics professor Peter Howitt, a pioneer in the field of economic growth and innovation, has been awarded the Nobel Prize in Economic Sciences for his work on the theory of sustained growth through creative destruction. Alongside Philippe Aghion and Joel Mokyr, Howitt's research explores how new technologies can drive economic growth, but also generate harm for those whose skills or capital become obsolete. His groundbreaking work, described as a "central concept of economic growth," has led to the development of a mathematical model for creative destruction.

Key Takeaways:

• Peter Howitt, a professor emeritus of economics at Brown University, has been awarded the Nobel Prize in Economic Sciences for his theory of sustained growth through creative destruction, which explains how innovation drives economic progress but also leads to harm for those whose skills or capital become obsolete.
• Howitt shares the prize with Philippe Aghion of the College de France and INSEAD in Paris and the London School of Economics and Political Science, and Joel Mokyr of Northwestern University.
• Howitt's research, published in 1992, constructed a mathematical model for creative destruction, highlighting the conflict between new and old technologies that inhibits economic growth.
• Key aspects of Howitt's work include the recognition that economic growth cannot be taken for granted and the need to manage conflicts between new and old technologies.
• Brown University President Christina H. Paxson has congratulated Howitt on the award, praising his work as "a central concept of economic growth."
• Kareen Rozen, chair of Brown's Department of Economics, has praised Howitt's contributions to teaching and research, highlighting his prolific publication record and his commitment to graduate education.

Statistics:

• 40: The number of articles published by Peter Howitt since joining Brown University.
• 2009: The year in which Howitt published his groundbreaking book "The Economics of Growth," which synthesized his prize-winning work.
• 2013: The year in which Howitt retired from Brown University, but continued to teach in the graduate program.
• 1972-1996: The period during which Howitt taught at the University of Western Ontario, combining his work there with visiting positions at Laval University in Quebec and in France, at Paris and Toulouse universities, and in the U.S. at the Massachusetts Institute of Technology.
• 1996-2000: The period during which Howitt moved to Ohio State University before joining the faculty at Brown University in 2000.

Sources:

• Brown University news release, October 13, 2025: "* Brown University economics professor Peter Howitt wins Nobel Prize in Economic Sciences*"
• Royal Swedish Academy of Sciences, October 13, 2025: "The Nobel Prize in Economic Sciences 2025"
• Interview with Peter Howitt, October 13, 2025: "I was surprised and honored to receive the Nobel Prize in Economic Sciences"