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The Nobel memorial prize in economics has been awarded to researchers Joel Mokyr, Philippe Aghion and Peter Howitt.
Their research focuses on a concept known as “creative destruction," which includes the impact of innovation on economic growth and how new technologies replace older ones, according to The Associated Press.
Dutch-born Mokyr, 79, is from Northwestern University, while Aghion, 69, is from the College de France and the London School of Economics, and Canadian-born Howitt, 79, is from Brown University.
Read more from The Associated Press.
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