The Nobel-winning work of Mokyr, Aghion and Howitt carries a warning for India — unchecked monopoly power, restricted inquiry, or rising inequality could bring back stagnation
Joel Mokyr, Philippe Aghion, and Peter Howitt won the Nobel Memorial Prize in Economics for their work on “creative destruction,” explaining how innovations replace outdated technologies. Their research combines historical analysis and mathematical models to quantify the mechanisms driving economic growth
