The 2025 Nobel Prize in Economics: A “Creative Betrayal” of Schumpeter’s Vision

by October 28, 2025

October 28, 2025

In their 1990 paper, “A Model of Growth Through Creative Destruction,” 2025 Nobel winners Philippe Aghion and Peter Howitt attempt to formalize Joseph Schumpeter’s theory of “Creative Destruction.” Their mathematical model is not creative, but it is destructive of the theory itself.

The 2025 Nobel Prize in Economics: A “Creative Betrayal” of Schumpeter’s Vision

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The 2025 Nobel Prize in Economics: A “Creative Betrayal” of Schumpeter’s Vision

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