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Trio to share economics Nobel for work on innovation-driven growth
The Nobel Prize in economics has been awarded for work on technology’s impact on sustained economic growth.
The Royal Swedish Academy of Sciences announced on Monday that the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2025 would be shared among American-Israeli Joel Mokyr, France’s Philippe Aghion and Canada’s Peter Howitt “for having explained innovation-driven economic growth”.
The award was based on the idea that vast numbers of people have been lifted out of poverty over the past two centuries as the world has seen sustained economic growth with technology the underlying cause. Previously, stagnation was the norm throughout most of human history, the jury said in a statement.
Mokyr, a professor at Northwestern University in the United States, won half of the prize for using historical records to identify what changed during the Industrial Revolution.
His research showed lasting growth depends on grasping why technologies function, not merely observing that they do. Before that understanding developed during the Industrial Revolution, it was difficult to build upon new discoveries and inventions.
Aghion, from College de France and The London School of Economics, and Howitt, from Brown University in the US, share the other half of the prize “for the theory of sustained growth through creative destruction,” the jury said.
In an article published in 1992, they developed a mathematical framework for “ creative destruction,” a concept popularised by Austrian economist Joseph Schumpeter in the early 1900s, describing how new products replace old ones in the marketplace.
The award has a total cash prize of 11 million Swedish kronor ($1.2m), which Mokyr will split with Aghion and Howitt.
[Aljazeera]
An estimated 550,000 people took part in demonstrations across France today to protest against teaching conditions in schools, rising fuel prices and the cost of living.
Marches were largely peaceful and took place in several major French cities, including Paris, where 110,000 people attended.
“We just want to study, we just want a future” one student taking part in the protest in the capital told BBC News, while another said they were ” just trying to make things change”.
But French Interior Minister Laurent Nunez said some groups “at the margins of these protests” caused the situation to “degenerate”.
According to the French Prime Minister Sébastien Lecornu, 1200 people were arrested. Officials also reported looting in cities such as Marseille, where masked 8ntruders also entered the city hall. In Lyon, the tourist office was set on fire and shops were damaged.
French President Emmanuel Macron said any vandals and looters would be “prosecuted and punished”, while Jean-Luc Mélenchon, the leader of left-wing party La France Insoumise, said demonstrations had been calmly mobilised.
Meanwhile, firefighters are continuing to battle a blaze at Limoges City Hall after a reported break-in and arson inside the 19th-century building during protests there.
(BBC)
A large fire near a Canadian military base in Alberta has killed and injured some people, the defence minister said, without confirming the number of casualties.
The Canadian Armed Forces were working with local authorities to manage the fire and were looking into what caused it, David McGuinty said, describing the situation as “very, very active and delicate”.
Canada’s Prime Minister Mark Carney said on X that a “serious incident creating a major fire” had occurred, adding his “thoughts are with all the brave women and men affected”.
Canadian Forces Base Wainwright, where the fire broke out, is one of the country’s busiest military training bases.
The blaze “spread rapidly due to high winds” and had torn through the fences of the base, the Municipal District of Wainwright said.
McGuinty told reporters he “cannot recall an incident like this in recent memory”.
It is unclear when the fire broke out, but the district first posted about the incident at about 17:30 local time.
Local authorities have urged residents to avoid the area and give all emergency vehicles right of way.
(BBC)
The Asian Youth Games gold medallist who has run sub four minutes previously returned a time of 3:55.97 seconds to become the first athlete in his age category at these championships to run the distance under four minutes.
Achintha who has a personal best of 3:53.05 from last year was representing Prince College Ratnapura today.
In another impressive 1,500 m feat Tharushi Abhisheka of Lyceum International School, Wattala established a new meet record in the Under-20 Girls’ 1,500m as she returned a time of 4:34.59 seconds to win.
By the end of the second day of the meet seven new meet records had been established.
D. V. C. de Soysa (of Galewela Central College) Under-16 Boys’ Discus Throw – 55.83m.
D. G. Lahiru Achintha (of Ratnapura Kumara Vidyalaya) Under-18 Boys’ 1,500m – 3:55.97 secs.
W. P. Nethula Induwara (Rahula College, Matara) Under-14 Boys’ 100m – 11.70 seconds
K. V. R. Gayesha (Ira Handa Kotuwa Wewa Maha Vidyalaya, Polonnaruwa) Under-16 Girls’ High Jump – 1.70m
H. M. D. S. Herath (Maris Stella College, Thimbirigaskatuwa) Under-20 Boys’ Long Jump – 7.65m
P. M. Amaya Semindi (Vijitha Central College, Dikwella) Under-14 Girls’ High Jump – 1.58m
Half a million people join protests in France, but some turn violent
Deadly fire breaks out at Canada military base
Showers or thundershowers will occur in most parts of the island after 1.00 p.m.
Buddhist hierarchy demands prison perks for monk convicts
Debate on NCM against Speaker postponed indefinitely
Karannagoda pushed for £24,536 for Yoshitha’s UK training, Court told
‘Dates have the highest sugar content to fight Coronavirus’
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