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!!Philippe Aghion awarded The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2025

__The Royal Swedish Academy of Sciences has decided to award the 2025 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel to [Philippe Aghion|Member/Aghion_Philippe] MAE, jointly with __Joel Mokyr__ and __Peter Howitt__, “''for having explained innovation-driven economic growth''.__
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One half of the prize is awarded to __Joel Mokyr__, for “''having identified the prerequisites for sustained growth through technological progress'',” while the other half is shared by __Philippe Aghion__ and __Peter Howitt__ “for the theory of sustained growth through creative destruction.”
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__Philippe Aghion__, a member of __Academia Europaea__'s [Economics, Business and Management Sciences Section|Acad_Main/Sections/Economics_Business_and_Management_Sciences] since 2016, is being honored for his foundational work (in collaboration with __Peter Howitt__) on ''Schumpeterian growth theory'', which models how innovation and “creative destruction” drive long-term economic growth. His research has deepened our understanding of the interplay among market competition, firm dynamics, and technological change as drivers of prosperity.
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Professor Aghion received __Academia Europaea__'s [Erasmus Medal|Acad_Main/News2_Archive/Erasmus Medal 2021] in 2021.
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!With this award, __Academia Europaea__ is pleased to count among its distinguished members another laureate of the Nobel-associated prize in economic sciences, underscoring the European scholarly contribution to the global economics frontier.
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[Professor Björn Wittrock|Member/Wittrock_Björn], Chair of the __Social and Related Sciences Class of Academia Europaea__ writes:
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"''Academia Europaea and its Class of Social and Related Sciences warmly congratulate its longstanding member Professor Philippe Aghion to receiving the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2025. He has rendered crucial contributions to our understanding of transformative societal change. He has also promoted sustained conversations between economics and the other social and human sciences to a degree that has few parallels. Many MAEs, who may remember his lectures in Barcelona three years ago, know that there are few, if any, contemporary scholars who lecture in such a passionate- and simultaneously crystal-clear - argumentative mode about issues that in the last instance concern us all as human beings living in a tumultuous and sometimes seemingly inexplicable world.''"
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[Professor Martin Kahanec|Member/Kahanec_Martin], Chair of the [Economics, Business and Management Sciences Section|Acad_Main/Sections/Economics_Business_and_Management_Sciences] of Academia Europaea says:
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"''On behalf of the Section of Economics, Business and Management Sciences, I extend our heartfelt congratulations to Professor Philippe Aghion on this most distinguished recognition. His pioneering work on growth, innovation, and institutions has not only shaped the frontiers of economic research but also provided invaluable insights for policymakers and society at large. Already in 2021, Academia Europaea honoured him with the prestigious Erasmus Medal, acknowledging his transformative contributions to science and scholarship — this new accolade further underlines the enduring global impact of his work. We are proud to count him among our members and look forward to the continued inspiration his scholarship brings to our community.''"

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Read an [interview with Philippe Aghion|Acad_Main/Members_in_Spotlight/Philippe Aghion] which took place in 2022 on the occassion of the award of the [Erasmus Medal|Acad_Main/News2_Archive/Erasmus Medal 2021]. The interview was conducted by the Academia Europaea Cardiff Knowledge Hub.
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!About Philippe Aghion

Throughout his professional life, __Professor Philippe Aghion__ has been affiliated with top academic institutions in Europe and the United States in business and economics. His current appointments include the Collège de France, the London School of Economics, and the INSEAD Business School; he is also an Invited Professor at the Paris School of Economics. He was a Professor at Harvard University, the University College London, Official Fellow at Nuffield College, Oxford, and Assistant Professor at the Massachusetts Institute of Technology. Graduated from the École Normale Supérieure de Cachan, he has a Diplôme d'études approfondies in Mathematical Economics from University of Paris 1 Pantheon-Sorbonne, and a Ph.D. from Harvard University.
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He is a truly global giant in his academic field with a strong European basis and worldwide recognition due to an enormous amount of publications in top scientific journals, through widely recognized books and many influential societal policy debates. As one of the world's leading theorists, in his publications he collaborates intensively with the best empirical researchers to deal with pressing challenges of high policy relevance to obtain the strong attention not only from the academic community but also among policymakers and in the wider public. 
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His major ground-breaking research relates to the economics of growth and contract theory, where he developed with __Peter Howitt__, __Rachel Griffith__ and others the Schumpeterian Growth paradigm by reviving Schumpeter with sound theoretical considerations and by providing testable implications. Famous books with __P. Howitt__ include Endogenous Growth Theory (MIT Press, 1998) and The Economics of Growth (MIT Press, 2009), and with __Rachel Griffith__ Competition and Growth (MIT Press, 2006). His research is updated in The Power of Creative Destruction (Harvard University Press, 2021; together with Céline Antonin and Simon Bunel) where he discusses strategies to tame capitalism to ensure future innovations and wellbeing. Based on his outstanding reputation, __Philippe Aghion__ has already received a number of awards including the Yrjo Jahnsson Award of the best European economist under age 45 (2001), the John Von Neumann Award (2009), and the BBVA “Frontier of Knowledge Award” (2020 with __Peter Howitt__).  
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!Biography

__Philippe Aghion__ is a professor at leading institutions in business and economics, including the [Collège de France|https://www.college-de-france.fr/site/college/index.htm], at the [London School of Economics|https://www.lse.ac.uk], and the [INSEAD Business School|https://www.insead.edu], and he is also an invited professor at the [Paris School of Economics|https://www.parisschoolofeconomics.eu/en]. Previously, he was the Robert C. Waggoner Professor of Economics at [Harvard University|https://www.harvard.edu], Professor at [University College London|https://www.ucl.ac.uk], Official Fellow at [Nuffield College|https://www.nuffield.ox.ac.uk], Oxford, and Assistant Professor at [Massachusetts Institute of Technology|https://www.mit.edu] (MIT). He graduated from the École Normale Supérieure de Cachan (ENS Cachan, Mathematics Section), has a Diplôme d'études approfondies (DEA) in Mathematical Economics from University of Paris 1 Pantheon-Sorbonne, and a Ph.D. from Harvard University (1987).
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His research on the economics of growth and contract theory is considered groundbreaking. With __Peter Howitt__, he pioneered the so-called Schumpeterian Growth paradigm, later extending it to analyze the design of growth policies and the role of the state in the growth process. Together, they published __Endogenous Growth Theory__ (MIT Press, 1998); other important works include __The Economics of Growth__ (MIT Press, 2009), his book with __Rachel Griffith__ on __Competition and Growth__ (MIT Press, 2006), and his survey “__What Do We Learn from Schumpeterian Growth Theory__” (jointly with U. Akcigit and P. Howitt).
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International honours bestowed on Aghion throughout his career include the __Yrjo Jahnsson Award__ of the best European economist under age 45 (2001), the __John Von Neumann Award__ (2009), and the __BBVA “Frontier of Knowledge Award”__ (2020), which he shared with Peter Howitt for “developing an economic growth theory based on the innovation that emerges from the process of creative destruction.” He was elected Fellow of the [American Academy of Arts and Sciences|https://www.amacad.org] in 2009 and Corresponding Fellow of the [British Academy|https://www.thebritishacademy.ac.uk] in 2015. He is also a fellow of the Econometric Society, a member of the Executive and Supervisory Committee (ESC) of the Center for Economic Research and Graduate Education - Economics Institute (CERGE-EI), and a member of the Scientific Advisory Board of the Max Planck Institute for Research on Collective Goods. Of note, he was appointed by United Nations Secretary-General Ban Ki-moon in 2016 to an expert group advising the High-Level Commission on Health Employment and Economic Growth, which was co-chaired by presidents François Hollande of France and Jacob Zuma of South Africa.
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__Metrics:__ over 151 publications with 12,605 total citations; h-index 59 (Scopus).
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[{Image src='Alfred_Nobel.jpg' caption='' height='150' alt='Alfred Nobel' class='image_left'}][List of Academia Europaea Nobel Prize Laureates|Acad_Main/Members/Prizes_Awards_and_Medals/Nobel_Prize]