Kathleen Hagerty Provost | Northwestern University
Joel Mokyr, a professor at Northwestern University, has been awarded the 2025 Nobel Prize in Economic Sciences. The Royal Swedish Academy of Sciences recognized Mokyr for his theory on sustained economic growth, identifying key factors such as useful knowledge, mechanical competence, and supportive institutions for technological progress.
The Nobel committee split the prize between Mokyr and two other economists. Philippe Aghion of the Collège de France and the London School of Economics and Peter Howitt of Brown University shared the other half for their mathematical model of growth through creative destruction. Howitt earned his doctorate in economics from Northwestern in 1973.
Mokyr specializes in the economic history of Europe, focusing on technological change and the development of knowledge between 1750 and 1914. His research examines how industrialization and economic advances have influenced economic welfare.
Northwestern President Henry S. Bienen commented, “This is a tremendous honor for Professor Mokyr and for Northwestern University. Joel has been an invaluable member of one of the leading economics departments in the world, as well as to our influential history department, and he has had a profound impact on our understanding of both economics and history by incorporating culture into the analysis of economic growth. He is an extraordinary scholar, teacher and mentor. Our University community is proud of his many accomplishments.”
Provost Kathleen Hagerty added, “Joel Mokyr serves as a brilliant example of the power of interdisciplinary work to better understand our past, present and future. We congratulate Professor Mokyr and his colleagues, Professor Philippe Aghion and Professor Peter Howitt, on their remarkable achievements.”
Adrian Randolph, dean of the Weinberg College of Arts and Sciences at Northwestern, said, “As his colleagues in the departments of Economics and History can attest, Joel is not only a creative and influential scholar but also a great teacher and mentor. His writings have transformed the study of economic history, while his teaching has enriched the lives of generations of Northwestern students.”
Mokyr’s published works include “A Culture of Growth: Origins of the Modern Economy,” which examines cultural influences on the Industrial Revolution. Other books such as “The Lever of Riches,” “The Gifts of Athena,” and “The Enlightened Economy” address technology’s role in economic advancement. His most recent book, “Two Paths to Prosperity: Culture and Institutions in China and Europe, 1000-2000,” will be released by Princeton University Press in November 2025.
At a recent symposium at Northwestern, Mokyr discussed long-term improvements in living standards: “The last 150 years have been absolutely miraculous in the history of the human race. The living standards that would have been unimaginable in the 1870s have been attained not just by the very wealthy and top layers of society, but basically, by regular citizens. The average life expectancy in the world today is 73 for women and 68 for men. In the 1870s it was in the upper 30s. We have doubled it. That gives you an indication of what we have achieved.”
Mokyr’s previous honors include being named a Distinguished Fellow of the American Economic Association in 2018 and receiving the Elinor Ostrom Prize that same year for a paper co-written with Avner Greif. He also won the Alan Sharlin Prize from the Social Science History Association and received international recognition with awards such as the Heineken Award for History (2006) and the International Balzan Prize (2015).
He holds fellowships with several academic societies including the American Academy of Arts and Sciences, Econometric Society, British Academy, Italian Accademia dei Lincei, and Dutch Royal Academy of Sciences. Mokyr has served as president of the Economic History Association and as editor-in-chief for academic publications.
Mokyr completed his undergraduate studies at Hebrew University of Jerusalem before earning his master’s degree and Ph.D. at Yale University.
Northwestern University faculty have previously received Nobel recognition; Sir Fraser Stoddart won the Nobel Prize in Chemistry in 2016, Dale T. Mortensen received it for Economics in 2010, and John A. Pople was honored with the Chemistry Nobel in 1998.