The Nobel Memorial Prize in Economic Sciences was awarded on Monday(10.13) to Joel Mokyr of Northwestern University; Philippe Aghion of Collège de France, INSEAD and the London School of Economics; and Peter Howitt of Brown University for their work on how innovation drives economic growth.

The three economists shared the prize for research that explains the relationship between technological progress and sustained economic growth that has improved living standards, health and quality of life for people around the world. The prize committee said that their work would help ensure that growth was maintained and could be steered in the direction to support humankind.

Who else has won a Nobel Prize this year?

• The prize in physiology or medicine went to Mary E. Brunkow, Fred Ramsdell and Shimon Sakaguchi for their discoveries about immune systems.
• The award for physics was given to John Clarke, Michel Devoret and John Martinis for their work in quantum mechanics and electric circuits.
• The prize for chemistry was shared among Susumu Kitagawa, Richard Robson, and Omar M. Yaghi for the development of metal-organic frameworks.
• The literature prize went to Laszlo Krasznahorkai, a Hungarian novelist, for his “compelling and visionary oeuvre that, in the midst of apocalyptic terror, reaffirms the power of art.”
• The Nobel Peace Prize was awarded to María Corina Machado, an opposition leader in Venezuela, for “tireless work promoting democratic rights.”