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The Nobel Memorial Prize in Economic Sciences was announced in Stockholm, honoring research on why some countries prosper more than others. Last year’s laureates studied the link between open societies and wealth. The prize is awarded alongside other Nobel categories on December 10.
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On October 13, 2025, Joel Mokyr, Philippe Aghion, and Peter Howitt won the Nobel Memorial Prize in Economic Sciences for their research explaining innovation-driven economic growth. Mokyr received half the prize for historical analysis of technological progress, while Aghion and Howitt shared the other half for their mathematical model of creative destruction, highlighting innovation's role in sustained prosperity.
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French Prime Minister Lecornu narrowly avoided ousting after parliament rejected motions to topple his government amid political deadlock. He suspended pension reform until 2027 to secure support for the 2026 budget, facing opposition from both the far-left and far-right. Macron's second term remains fragile as parliament remains divided.