[Toyo Keizai Inc.] [Nobel Prize in Economics Winner] Professor Philippe Aguillon, lead author of the book “The Power of Creative Destruction,” receives the 2025 Nobel Prize in Economics. Toyo Keizai Inc. Press Release: October 16, 2025 To Members of the Media [Nobel Prize in Economics Award] Professor Philippe Aguillon, lead author of the book “The Power of Creative Destruction,” will be awarded the 2025 Nobel Prize in Economics. Explains the process of “creative destruction” brought about by innovation theory and the mechanism that promotes economic growth. Awarded in recognition of achievements Professor Philippe Aguillon of the Collège de France, lead author of “The Power of Creative Destruction,” published in November 2022 by Toyo Keizai Inc. (Headquarters: Chuo-ku, Tokyo; President and CEO: Tetsuya Yamada), has been awarded the 2025 Nobel Prize in Economics, along with Professor Joel Mokier of Northwestern University and Professor Peter Horwitt of Brown University.
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https://toyokeizai.net/articles/-/911346 Frequently attracted attention from economic media outlets since its publication! Book review in the Tokyo Shimbun newspaper, January 5, 2023 (by Masahiro Nei) Opinion section in the Nihon Keizai Shimbun newspaper, January 16, 2023 (by Miyao Saijo) Book review in the February 14, 2023 issue of “Weekly Economist” (reviewer: Takeo Doi) Book review in the February 11, 2023 issue of “Mainichi Shimbun” (reviewer: Fumio Otake) Book review in the “Nikkei Shimbun” magazine, February 18, 2023 (Reviewer: Tetsuji Okazaki) Book review in the “Komeito Shimbun” magazine, March 6, 2023 (Reviewer: Toru Morotomi) Book review in the “Weekly Diamond” magazine, 2023 #3 in “Best Economics Books” In a challenging post-COVID world, how can we reinvent capitalism and harness its power to sustainable, equitable growth and prosperity? This book is a collection of lectures by Professor Aghion, an authority on economic growth who teaches at some of the world’s top universities, including the Collège de France and the London School of Economics (LSE)! Creative destruction has the potential to generate growth. This book argues that rather than searching for a better system, we need to run capitalism better. We can do this by harnessing the power of creative destruction. Creative destruction has, first and foremost, an incredible ability to generate growth. It is creative destruction that has led society to unimaginable prosperity in less than 200 years. Therefore, the challenge ahead is to better understand this force and steer it in the right direction. How can we steer creative destruction toward a path that achieves sustainable and equitable growth? How can we prevent past innovators from using their financial power to hinder future innovators? How can we minimize the job losses and, ultimately, the negative impacts of creative destruction on health and well-being? What factors can effectively channel creative destruction in a positive direction? This book explores the answers to these questions. (Excerpt from “Introduction”) Table of Contents Chapter 1: A New Paradigm Chapter 2: The Mystery of Takeoff Chapter 3: Should We Fear New Technology? Chapter 4: Is Competition Really Good? Chapter 5 Innovation, inequality, and taxation Chapter 6 Controversy over secular stagnation theory Chapter 7 Middle-income country trap Chapter 8: Is Industrialization Absolutely Necessary? Chapter 9: Green Innovation and Sustainable Growth Chapter 10: The Path to Innovation Chapter 11: Creative Destruction, Health, and Well-Being Chapter 12: Financing Creative Destruction Chapter 13: Innovation and Globalization Chapter 14: The State as Investor, the State as Insurer Chapter 15 Triangle of market, government, and civil society Final chapter: The future of capitalism About the Author Philippe Aghion Professor at the Collège de France, INSEAD (European Institute of Management), and the London School of Economics (LSE). Previously a professor at Harvard University. Co-author with Professor Peter Horwitt of “Endogenous Growth Theory” and “The Economics of Growth” Céline Antonin Economist at OFCE (French Institute of Economics), Collège de France Innovation Lab Research Associate Simon Bunel Senior Economist at INSEE (French National Institute of Statistics and Economic Studies), Economist at the Banque de France, Collège de France Innovation Lab Research Associate Akiko Murai Translator. Graduated from the Faculty of Letters, Sophia University. His translations include “Fast & Slow” (Hayakawa Bunko NF), “NOISE” (Hayakawa Publishing), “The Economics of Turning Despair into Hope” (Nikkei BP, Nikkei Publishing Division), “Economics for a Good Society” (Nikkei Publishing), “A World History of Accounting” (Bunshun Bunko), “The Economics of Good and Evil” (Toyo Keizai Inc.), and “Capitalism and Freedom” (Nikkei BP Inc.), among many others. *Titles and backgrounds are from the time of publication. Book Information The Power of Creative Destruction Philippe Aghion, Céline Antonin, and Simon Bunel [authors], Akiko Murai [translator] Price: ¥4,620 (tax included) Release date: November 25, 2022 ISBN:
978-4-492-39671-1 Format: A5 / Hardcover / 488 pages Publisher: Toyo Keizai Inc. Toyo Keizai Store Site:
https://str.toyokeizai.net/books/9784492396711/ Amazon page: https://amzn.to/4okpmqL For more information about this release