Marginal REVOLUTION
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The case for a Nobel to Peter Howitt
He was born in Canada, by the way. I wonder if he samples the good Chinese food in Rockville. Here is the GPT-5 coverage. Excerpt: Operationalizing Schumpeter: the Aghion–Howitt model (1992).With Philippe Aghion, Howitt built a tractable model in which vertical, quality‑improving innovations drive growth but also destroy incumbents’ rents—formally embedding creative destruction in general […]