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flag Canadian economist Peter Howitt won the 2025 Nobel Economics Prize for research on innovation-driven growth and creative destruction.

flag Canadian economist Peter Howitt has been awarded the 2025 Nobel Memorial Prize in Economic Sciences, along with Joel Mokyr and Philippe Aghion, for their research on innovation-driven economic growth. flag The Royal Swedish Academy of Sciences honored their work on creative destruction—the process by which new technologies replace outdated ones—using mathematical models to explain sustained economic progress. flag Howitt, 79, a Brown University professor and Canadian native, called the award a "dream of a lifetime" and highlighted his decades-long collaboration with Aghion. flag The prize, worth nearly $1.2 million, is split evenly, with half going to Mokyr and the other half shared by Aghion and Howitt. flag Winners receive a gold medal and diploma.

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