The 2025 Nobel Prize In Economic Sciences Award Goes To Mokyr, Aghion And Howitt ‘On Innovation-Driven Growth’
The Oasis Reporters
October 15, 2025
The Royal Swedish Academy of Sciences has decided to award the 2025 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel to Joel Mokyr, Philippe Aghion and Peter Howitt “for having explained innovation-driven economic growth” with one half to Mokyr “for having identified the prerequisites for sustained growth through technological progress” and the other half jointly to Aghion and Howitt “for the theory of sustained growth through creative destruction.”
And Professor Ndubuisi Ekekwe helps us to unlock new frontiers of possibilities by
explaining the physics of building wealth by focusing on capital and not working and labouring with long hours.
Read on:
When you are paid at work, make sure to elevate a part of that salary to capital. Money is a unit of capital and does not have an inherent regenerative ability in its stable state. The reward of most Labour is money. But Labour expires or retires which means sources of money can be cut off.
True breakthrough comes when your income is not only a function of time and energy but of ownership.
Yes, when you earn through capital. Indeed, when you participate in equity, you step into a realm where time works for you, not against you.
Your night becomes productive because your capital labours while you sleep.
To attain sustained financial independence, the journey begins with a decision: elevate a portion of your income to capital. The same logic holds for families, companies, and nations.
Poor nations operate in the domain of money with characteristics of trading, consuming, and transacting.
Rich nations live in the realm of capital with features of creating, owning, and compounding. The formation of capital expands the wealth of nations; it is the bridge between effort and sustainability.
A poor person wastes time to save money (travel by road) while a rich person spends money to save time (he flies). Capital saves time as you build wealth even when not working but labour constrains time since it is one activity at a time!
Among the five factors of production (land, labour, capital, entrepreneurship, and knowledge), money is not listed.
Money is merely a medium of exchange. Capital is the transformer which converts raw ideas into industries and knowledge into prosperity. In truth, money measures capital, but it is not capital.
