This post provides a fascinating exploration of the 2025 Nobel Prize in Economics, especially the work of Mokyr, Howitt, and Aghion on the intangible factors driving economic growth. Mokyr's insights into technology as an evolutionary force and the role of "economic freedoms" in fostering innovation are particularly striking. His caution about vested interests stifling progress resonates deeply, especially in today’s regulatory climate. The personal reflections on the development of economic theory, coupled with a thoughtful critique of secularization’s impact on innovation, offer a compelling perspective on how cultural shifts shape economic dynamism. It’s a timely reminder that technological progress is not just about machines, but about the cultural and institutional frameworks that support them.
jerrybmarchant•3h ago