Joel Mokyr, Philippe Aghion and Peter Howitt won the 2025 Nobel economics prize on Monday for their work on how innovation and the forces of “creative destruction” can drive economic growth and lift living standards across the globe. Their research explains how technology gives rise to new products and production methods which replace old ones, resulting in a better standard of living, health and quality of life. “Over the last two centuries, for the first time in history, the world has seen sustained economic growth. This has lifted vast numbers of people out of poverty and laid the foundation of our prosperity,” the Royal Swedish Academy of Sciences, which awards the prize, said in a statement. Economic growth not guaranteed The laureates have also shown that such progress cannot be taken for granted, the Academy said, while two of the prize winners highlighted that US President Donald Trump’s trade policies would impinge on growth. “Economic stagnation, not growth, has been th...
Former Pakistan Test batter Wazir Mohammad passed away on Monday, according to the Pakistan Cricket Board (PCB). According to Cricinfo , the 95-year-old right-hander was born in Junagadh in 1929, and his siblings included renowned cricketers Hanif, Mushtaq and Raees Mohammad. “One of the four Mohammad brothers to represent Pakistan in test cricket, he featured in 20 matches for his country from 1952 to 1959,” the PCB wrote in a post on X, extending its condolences. PCB Chairman Mohsin Naqvi expressed his condolences to Mohammad’s family in a statement, paying tribute to the batter’s services to test cricket. “Wazir Mohammad was a good batsman and an extremely refined human being,” Naqvi was quoted as saying, offering prayers for the family. More to follow from Dawn - Home https://ift.tt/27kTDXu