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Source: https://www.brown.edu/news/2025-12-10/nobel-prize-ceremony-2025-peter-howitt Parent: https://www.brown.edu/news/news-events
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December 10, 2025 2025-12-10
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Jenna Pelletier\ [email protected]\ 401-863-5450
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Brown University economist Peter Howitt accepts Nobel Prize in Stockholm
Howitt, a professor emeritus of economics, accepted a diploma and medal from the king of Sweden and delivered a lecture on his prize-winning research during Nobel Week 2025.
PROVIDENCE, R.I. [Brown University] — Brown University Professor Emeritus of Economics Peter Howitt accepted the 2025 Nobel Prize in Economic Sciences on Wednesday, Dec. 10, at the Stockholm Concert Hall in Sweden.
Howitt received a medal and a diploma from King of Sweden Carl XVI Gustaf at a ceremony during which the 2025 Nobel Prizes in physics, chemistry, physiology or medicine, and literature were also awarded.
He shares half of the economics prize, which was awarded for “the theory of sustained growth through creative destruction,” with his longtime research partner Philippe Aghion; the other half was awarded to economic historian Joel Mokyr.
John Hassler, chair of the Committee for the Prize in Economic Sciences and member of the Royal Swedish Academy of Sciences, delivered a presentation speech that lauded Howitt, Aghion and Mokyr for advancing society’s understanding of the mechanisms underlying innovation-driven economic growth.
Q&A with Peter Howitt: The Nobel Prize and ‘creative destruction’ in the age of AI
The Brown University economist discussed his research, its lessons for today, and his appreciation for Brown’s stimulating academic environment.\ \
“Your work provides society with a better chance to make sure that economic growth can continue and be directed to deliver new and better to humankind,” Hassler said. “Their work… shows that since new ideas build upon old ones, the direction of innovation is often persistent… The models show how society then can steer innovations in a sustainable direction.”
The mathematical model of “creative destruction” that Howitt and Aghion described in an academic journal in 1992, and the developments resulting from it, have produced many important lessons for society, Hassler said.
The prize, which was announced in October, also includes a cash award, which will be divided among the three recipients.
As part of Nobel Week 2025, Howitt delivered a prize lecture titled “Creative Destruction and Economic Growth” at Stockholm University on Monday, Dec. 8.
https://www.youtube.com/embed/jQCkCcuSJ_U
2025 Prize Lectures
Peter Howitt delivered the third 2025 Nobel Prize lecture in Economic Sciences.
“It is, of course, the dream of a lifetime to be standing here,” said Howitt, who was born in Ontario, Canada, and now lives in North Carolina.
In his talk, Howitt shared how he and Aghion developed the model and his thoughts on its implications today, including on international trade and generative AI.
“I do worry a little bit about AI,” he said. “Generative AI has the potential to displace a significant number of jobs because it automates not only the routine, repetitive tasks, but also complex cognitive work.”
Howitt joined the Brown faculty in 2000 and retired in 2013.
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