The Nobel Prize in Economics was awarded to historian Joel Mokyr, as well as economists Philippe Aghion and Peter Howitt. The corresponding statement was made by the Nobel Committee.
The scholars were honored with the award for "explaining innovative economic growth."
The prize was divided into two parts: Mokyr received it "for identifying the prerequisites for sustainable growth through technological progress," while Aghion and Howitt were recognized "for the theory of sustainable growth through creative destruction."
Earlier last week, the Nobel Committee announced the laureates in the fields of physics, medicine, chemistry, and literature. The Peace Prize was awarded to Venezuelan opposition leader María Corina Machado.