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From stagnation to sustained growth

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  • Nobel Prize Committee

    (Nobel Prize Committee)

Abstract

Over the past 200 years, the world has witnessed more economic growth than ever before. Its foundation is the constant flow of technological innovation; sustained economic growth occurs when new technologies replace old ones as part of the process known as creative destruction. This year’s laureates in economic sciences explain, using different methods, why this development was pos­sible and what is necessary for continued growth.

Suggested Citation

  • Nobel Prize Committee, 2025. "From stagnation to sustained growth," Nobel Prize in Economics documents 2025-1, Nobel Prize Committee.
    • Handle: RePEc:ris:nobelp:021676
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    File URL: https://www.nobelprize.org/prizes/economic-sciences/2025/popular-information/
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    JEL classification:

    • O - Economic Development, Innovation, Technological Change, and Growth

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