Congratulations to Peter Howitt (BA Honours ’68) — 2025 Nobel Laureate in Economics

The Department of Economics is thrilled to celebrate one of our own. We extend our warmest and most heartfelt congratulations to Peter Howitt, McGill alumnus (Honours Economics 1968), on being awarded the 2025 Nobel Memorial Prize in Economic Sciences for his pioneering work on innovation-driven growth through creative destruction.

Professor Howitt’s research, carried out in collaboration with Philippe Aghion, formalized how waves of innovation continuously replace older technologies, giving rise to sustained economic growth while reshaping industries and markets. His research has enriched our understanding of how dynamism, competition, and institutional frameworks interact to foster development, and have influenced global thinking about growth policy and innovation ecosystems.

This Nobel Prize is a testament to his decades-long commitment to rigorous scholarship, intellectual curiosity, and the enduring relevance of fundamental questions in economics.

Congratulations, Professor Howitt.