Sansad Tv
On the show today, we’re talking about a concept that has just won the Nobel Prize for Economics 2025 – a powerful idea that continues to shape the world we live in. It’s called Creative Destruction – first introduced by economist Joseph Schumpeter back in 1942 – and now recognized as the driving engine behind centuries of economic progress. From the Industrial Revolution to the digital age, creative destruction has been the transformative force that replaces the old with the new — disrupting industries, reshaping societies, and redefining how we live and work. Technological innovation and scientific progress have together created a cycle of continuous renewal, leading to sustained and remarkably stable economic growth. In fact, over the past two centuries, the world has witnessed unprecedented growth, fuelled by the constant flow of new ideas and technologies. The 2025 Nobel Prize in Economics celebrates this very understanding of sustained growth driven by technological innovation. Economic historian Joel Mokyr of Northwestern University, USA, was awarded one half of the prize “for identifying the prerequisites for sustained growth through technological progress.” The other half went jointly to Philippe Aghion of Collège de France, INSEAD Paris, and the London School of Economics, and Peter Howitt of Brown University, USA, “for developing the theory of sustained growth through creative destruction.” To help us understand this concept – its historical roots, its impact, and how it continues to drive innovation and economic growth.
Guests:
Anchor: Teena Jha
Producer: Sagheer Ahmad
Guest Coordinator: Deepti Vashisht, Vinod Kumar Singh, Paras Kandpal
Sansad Television is the Parliamentary channel of India. It was created in 2021 by merging Lok Sabha Television and Rajya Sabha Television.
Follow us on:
-Twitter: / sansad_tv
-Insta: / sansad.tv
-FB: / sansadtelevision
-WhatsApp: https://whatsapp.com/channel/0029VanO…
-linkedin: / published
Visit Sansad TV website: https://sansadtv.nic.in/
