Fontainebleau (France), Singapore, Abu Dhabi (UAE), San Francisco (US), 14 October 2025 — INSEAD, The Business School for the World, proudly announced that Professor Philippe Aghion, the Kurt Björklund Chaired Professor in Innovation and Growth at INSEAD, has been awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, the Nobel Prize in Economics, alongside Professor Peter Howitt of Brown University and Professor Joel Mokyr of Northwestern University.
The Royal Swedish Academy of Sciences recognised the trio for their groundbreaking research on innovation-driven economic growth. Professors Aghion and Howitt were jointly honoured for developing the theory of sustainable growth through creative destruction, which illustrates how new technologies continuously replace older ones, fostering long-term economic progress and prosperity.
“This recognition of Professor Aghion’s pioneering contributions to the theory of economic growth is a moment of great pride for INSEAD,” said Francisco Veloso, Dean of INSEAD. “His research has profoundly shaped our understanding of innovation and productivity, offering insights that are more relevant than ever in today’s rapidly changing global economy.”
Professor Aghion also holds positions as Professor at the Collège de France and Visiting Professor at the London School of Economics. His work has influenced not only economic theory but also policy frameworks worldwide, guiding how governments and organisations approach innovation, competition and productivity.
“Professor Aghion’s achievement reflects the academic excellence of INSEAD faculty,” added Peter Joos, Deputy Dean and Dean of Faculty at INSEAD. “His research not only shapes economic theory but also inspires our academic community to pursue ideas that create meaningful impact in business and society.”
This Nobel distinction stands as a testament to INSEAD’s global impact and reinforces the school’s mission to develop leaders and ideas that transform business and society. It underscores INSEAD’s enduring role as a global thought leader in driving innovation, entrepreneurship and inclusive growth.
