Peter Howitt
Canadian economistWikipedia
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Search complete. 6 mentions across 6 episodes found for "Peter Howitt".
Oct 28, 2026
speaker_1NARRATOR
The Sveriges Riksbank Prize in Economic Sciences in memory of Alfred Nobel, more commonly known simply as the Nobel Prize in Economics, was awarded this year to these three gentlemen.
speaker_1NARRATOR
Half of the roughly 1.1 million US dollar prize went to Joel Mokyr, with the other half being shared between Philip Agion and Peter Howitt for their combined work on explaining innovation driven economic growth.
speaker_1NARRATOR
We'll get to the reason why they split the prize up like this soon, but for now of course, while this is a lot of money, the real prize for these recipients is the recognition of a lifetime of work that is widely to be accepted as the highest honour in the field of economics.
speaker_1NARRATOR
To earn this prize, what these three economists have shown is that the sustained growth experience over the last two centuries and the prosperity that's come with it was pushed by technological innovation.
Govindraj EthirajHOST
Right.
Govindraj EthirajHOST
Madan, last year, the Joel Mokyr, Philippe Aghion, and Peter Howitt won the Nobel Prize for Economics for their work on creative destruction and how technology and production methods can boost growth and living standards.
Govindraj EthirajHOST
This year, we've talked about ground up models and Robert Hall and Michael Woodford.
Govindraj EthirajHOST
If you had a wish list in terms of what you feel is an area that economists could work on or should be working on and could potentially win the Nobel Prize maybe next year or after that, what would that area be?
Philippe AghionGUEST
But we would know nothing about the determinants of productivity growth.
Philippe AghionGUEST
So with Peter Howitt, whom you see here and who won the prize with me last year, and we had a third co-winner, fantastic Joël with Peter Howitt in 1987 we wrote a new growth paradigm which macro model which embodies three main ideas the first idea is that long run growth is driven by a cumulative process of innovation where each innovator builds upon previous innovations you always stand on giant shoulders The second idea is that innovations do not come from heaven.
Philippe AghionGUEST
They result from entrepreneurial investments, R&D, labs, skills, by entrepreneurs who seek, who want to innovate to get innovation runs.
Philippe AghionGUEST
So the idea is that I invest in R&D and the like because if I successfully innovate, I get some runs from innovation because I invented a new product or cheaper way to produce.
Kimberly AdamsHOST
Hall and Columbia professor Michael Woodford, will split the almost two million dollar prize for their work developing models that help governments navigating big swings in the economy use fiscal and monetary policy to maintain stability.
Kimberly AdamsHOST
To mark the occasion, we reached out to a couple of past laureates to hear how things have been going since getting the call.
Kimberly AdamsHOST
First, Claudia Goldin, an economics professor at Harvard University.
Kimberly AdamsHOST
She won in twenty twenty-three for her work in the field of historical economics, tracking women's pay and labor market participation across centuries.
Patrick Lee LucasNARRATOR
Next week, the Nobel Memorial Prize in Economic Sciences will be awarded on Monday by the Royal Swedish Academy of Sciences in Stockholm.
Patrick Lee LucasNARRATOR
Last year, Joel Molkir, Philippe Aguillon, and Peter Howitt were honored for research explaining the relationship between technological progress and sustained economic growth.
Patrick Lee LucasNARRATOR
All of the prize announcements are streamed live by the Nobel Prize Organization.
speaker_3ADVERTISER
Grainger knows if you're a procurement manager at an industrial manufacturing facility, you're balancing inventory and budget while sourcing critical supplies across the operation.
Robin L.P. BlackstoneHOST
They have already begun making decisions aided by AI.
Robin L.P. BlackstoneHOST
In 2025, Joel Mokri, Philip Aguillon, and Peter Howitt shared the Nobel Prize in Economics for work explaining innovation-driven growth.
Robin L.P. BlackstoneHOST
Agion and Howitt were recognized specifically for their theory of sustained growth through creative destruction.
Robin L.P. BlackstoneHOST
New approaches displace established ones, creating conflict with the institutions and interests organized around what came before.