When his plan failed, Philippe Aghion had to reconsider – and the outcome turned out to be a success.
2025 economic sciences laureate Philippe Aghion’s ambition was to join the Harvard Society of Fellows, but he failed. Instead, he ended up at MIT, where he met Peter Howitt. They started to collaborate and created a mathematical model explaining how creative destruction drives economic growth.
In 2025, the duo was awarded the economic sciences prize for their joint theory. Aghion’s failure thus turned out a success.
Last December in Stockholm, Sweden, Aghion took part in a conversation with his co-laureate Joel Mokyr and journalist Katrine Kielos. You can watch the entire economics seminar here: https://t.co/FDf6RDpFti