Canadian economist Peter Howitt is among a group of three researchers who won the Nobel memorial prize in economics, the Royal Swedish Academy of Sciences announced Monday.
Howitt, Joel Mokyr and Philippe Aghion won for their research into the impact of innovation on economic growth and how new technologies replace older ones — a key economic concept known as "creative destruction."
The winners represent contrasting but complementary approaches to economics. Mokyr is an economic historian who delved into long-term trends using historical sources, while Howitt and Aghion relied on mathematics to explain how creative destruction works.
Howi
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