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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.