“It is a Nobel Prize, in some way, that was expected one day, meaning the contribution of these three authors is fundamental in terms of development economics as well as the role that innovation plays in advancing the economy, whether in developed nations or those in development,” said Nuno Cunha Rodrigues to Lusa.
The Nobel Prize in Economics has been awarded to Joel Mokyr, Philippe Aghion, and Peter Howitt “for explaining economic growth driven by innovation,” as announced by the Royal Swedish Academy of Sciences.
Moments before the announcement, Philippe Aghion recorded an online interview with the President of Competition, lasting about half an hour, which will be presented at the Lisbon Conference. This event is promoted by the entity led by Nuno Cunha Rodrigues and will take place on October 23 at the Lisbon Congress Center.
“We had the opportunity to discuss several of his scientific articles and I think that, at a time when Europe is failing in innovation and technological development, the contribution he makes, which he also mentioned in the interview, is crucial to trying to rejuvenate the European Union and Europe as a continent of progress and development,” highlighted the head of AdC.
According to Nuno Cunha Rodrigues, Aghion answered various questions related to the future of the European Union, the Draghi report, the role of innovation, and environmental sustainability.
“I believe that at the time he was interviewed, he was still unaware [of the prize],” reported the AdC leader, considering it a “very unique coincidence” that adds more interest to the VII Lisbon Conference on Competition Law and Economics, taking place on October 23 and 24, featuring the participation of the Executive Vice-President of the European Commission, Teresa Ribera, and a group of renowned economists and legal experts.
Development economics is a branch of economics that analyzes the development of less wealthy countries, focusing on causes and solutions for poverty and inequality, covering a broader concept than mere economic growth (increase of Gross Domestic Product (GDP)) and including social indicators such as health, education, quality of life, and environmental sustainability.
Half of the prize announced today is awarded to the American-Israeli Mokyr, 79, “for identifying the prerequisites for sustainable growth through technological progress,” and the other half jointly to the French Aghion, 69, and the Canadian Howitt, 79, “for the theory of sustainable growth through creative destruction.”
