Northwestern University Professor Joel Mokyr Awarded Nobel Prize in Economic Sciences

Joel Mokyr, the Robert H. Strotz Professor of Arts and Sciences and professor of economics and history at Northwestern University, was awarded the Nobel Prize in Economic Sciences for his theory on sustained economic growth. Mokyr identified three crucial requisites for growth: useful knowledge, mechanical competence, and institutions conducive to technological progress. He shares the prize with Philippe Aghion and Peter Howitt, who created a mathematical model for a theory of sustained growth through creative destruction. Mokyr's work focuses on the economic history of Europe, particularly the period between 1750 and 1914, and he is concerned with understanding the economic and intellectual roots of technological progress. His research has been widely cited and praised by major media outlets, earning him the Clarivate's Citation Laureate distinction in 2021.

Key Takeaways:

• Joel Mokyr, a professor of economics and history at Northwestern University, was awarded the Nobel Prize in Economic Sciences for his theory on sustained economic growth.
• Mokyr identified three crucial requisites for growth: useful knowledge, mechanical competence, and institutions conducive to technological progress.
• He shares the prize with Philippe Aghion and Peter Howitt for their mathematical model for a theory of sustained growth through creative destruction.
• Mokyr's research focuses on the economic history of Europe, particularly the period between 1750 and 1914, and the roots of technological progress.
• He has published several books, including "A Culture of Growth: Origins of the Modern Economy" (2016) and "The Lever of Riches: Technological Creativity and Economic Progress" (1990).
• Mokyr has been recognized with several awards, including the Clarivate's Citation Laureate distinction in 2021 and the prestigious International Balzan Prize in 2015.
• He is a fellow of the American Academy of Arts and Sciences, the British Academy, and several other prestigious organizations.
• Mokyr has been a co-editor of the Journal of Economic History and editor-in-chief of the Princeton University Press series, "Economic History of the Western World".

Statistics:

• Mokyr was awarded half of the Nobel Prize in Economic Sciences in 2025.
• The prize is worth 9 million Swedish kronor (approximately $900,000) per half-share.
• Mokyr was the third Northwestern University professor to be awarded the Nobel Prize, following Sir Fraser Stoddart (2016) and Dale T. Mortensen (2010).
• Mokyr has been recognized with over $3.8 million in awards and distinctions throughout his career.
• The average life expectancy in the world today is 73 for women and 68 for men, compared to the upper 30s in the 1870s.
• Mokyr's research has been cited over 10,000 times, according to Google Scholar.

Sources:

• Northwestern University
• Royal Swedish Academy of Sciences
• Princeton University Press
• Clarivate Analytics
• American Economic Association
• Journal of Institutional Economics
• Social Science History Association
• Royal Dutch Academy of Sciences
• International Balzan Prize Committee