Nobel Growth - An Understanding of 2025 Economics Nobel

Atanu Sengupta and Sanjoy De

MPRA Paper from University Library of Munich, Germany

Abstract: This year’s Economics Nobel is provided for finding out the cause of innovation-destructive creation of new ideas. It is also highly individualistic. First, it neglects the welfare of those who lose the race and are destroyed. Can they assimilate this new knowledge and how? If not, then… Second, it neglects the very quality of creative destruction. In a capitalist society as Harrai (2014) argues innovation is always profit motivated. The discoverer of ORS, the simple thing that saved lives of million during dysentery is not recognized. Innovation of vaccine against malaria and dengue are still on a very primitive stage. Development of learning techniques that help first generation learners have taken a back seat to the hype in Artificial Intelligence. The idea of creative destruction is appropriate to understand the evolution of the new world through a serious of continuous innovation and creation of new techniques, replacing the old ones. However, still there remain some broader aspects which the so-called growth theorists miss out. Yuval Noah Harari tries to point out some of the areas uncharted by the growth theorists. But, the ultimate vision of growth, as provided in the Mahayana doctrine is to lift all in a great vehicle.

Keywords: Creative Destruction; Growth; Economics Nobel; Industrial Revolution; Capital (search for similar items in EconPapers)
JEL-codes: O47 (search for similar items in EconPapers)
Date: 2025-10-30
New Economics Papers: this item is included in nep-gro, nep-his, nep-hpe and nep-sbm
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