Canadian economist Peter Howitt is amongst a gaggle of three researchers who gained the Nobel memorial prize in economics, the Royal Swedish Academy of Sciences introduced Monday.
Howitt, Joel Mokyr and Philippe Aghion gained for “having defined innovation-driven financial development,” together with the important thing precept of inventive destruction.
The winners signify contrasting however complementary approaches to economics. Mokyr is an financial historian who delved into long-term developments utilizing historic sources, whereas Howitt and Aghion relied on arithmetic to clarify how inventive destruction works.
Dutch-born Mokyr, 79, is from Northwestern College; Aghion, 69, is from the School de France and the London College of Economics; and Canadian-born Howitt, 79, is from Brown College.
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