Economic sciences prize 2025
“I said, ‘Look, Peter, we might get a Nobel with this’”
In 1992, Philippe Aghion and Peter Howitt presented a mathematical model for what is called creative destruction: when a new and better product enters the market, the companies selling the older products lose out. Listen to the 2025 economic sciences laureate talk about the moment he knew that he and his co-laureate were on to something groundbreaking.