2025
Peter Howitt
Honorary Western professor, alum Peter Howitt, MA‘69, wins Nobel Prize in Economics
2025
Honorary Western professor, alum Peter Howitt, MA‘69, wins Nobel Prize in Economics
“A Western graduate and honorary professor has been awarded the world’s top prize for economics in recognition of his work on creative destruction, a theory that describes how innovation fuels economic growth through the rise of new industries and the decline of outdated ones.
Peter Howitt, MA‘69 (Economics), who was a faculty member at Western for nearly 25 years and remains an honorary professor, is among a trio of winners of the 2025 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, often known as the Nobel Prize in Economics.
He won the prestigious prize alongside Joel Mokyr and Philippe Aghion, a longtime associate, for their work in explaining innovation-driven economic growth.
Howitt told reporters it was the “dream of a lifetime.”
Western President Alan Shepard said it was a proud moment for the university community and its network of alumni.
“We are thrilled to celebrate Peter Howitt receiving the Nobel Prize in Economics. His pioneering work has transformed how we think about innovation and economic growth. Much of his work as an economist was conducted at Western,” Shepard said. “Peter was a professor of economics at Western from 1972 to 1996 and continues to hold an honorary professorship. His Nobel win is a powerful reflection of the excellence of Western’s storied economics department, which consistently ranks among the best in the world. This is a proud moment for Western.”
Published by Western Communications
