Sometimes scientific awards resemble long-awaited fireworks that burst not with the light of insight, but with the blaze of something everyone has known all along. Such is the case with this year’s Nobel Prize in Economics. It was awarded to Joel Mokyr, Philippe Aghion, and Peter Howitt — for explaining that economic growth happens thanks to… innovation.
That’s like giving a biology prize for discovering that a horse walks using its legs. Or a physics prize for the groundbreaking realization that a stone falls downward, not upward. Or a medicine prize for confirming that humans breathe air. The obviousness here doesn’t just catch the eye — it reaches the level of basic truths every first-year economics student already knows.