My academic journey in economics began at the University of Edinburgh, where I immersed myself in the economic history of Northern Britain—a field deeply influenced by Joel Mokyr, one of the three economists awarded the Nobel prize this week. Over time, my professional path brought me into personal contact with Mokyr, and his evolving research continues to inform how I interpret long-term economic growth. n nWhen uncertainty clouds the economic outlook, I find clarity in Mokyr’s scholarship. His work underpins my understanding of why certain economies flourish while others falter. It offers both encouragement and caution to nations navigating today’s volatile conditions, and provides insight into pivotal debates—such as the economic implications of artificial intelligence and the sustainability of China’s development model. In recognition of his Nobel honor and my deep respect for his contributions, I present five central lessons drawn from Mokyr’s influential body of work. n nTo read the full analysis, visit Bloomberg Opinion. n n______________________ n nAllison Schrager is a senior fellow at the Manhattan Institute and a contributing editor of City Journal. n nPhoto by Silas Stein/picture alliance via Getty Images
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Five Economic Lessons from a Nobel Winner This Year
I studied economics at the University of Edinburgh, which meant reading a lot about the economic history of Northern Britain — and that, in turn, meant reading a lot of Joel Mokyr, who is one of three economists who won the Nobel prize on Monday. Later on, as I embarked on my career as an economist, I got to know him personally, and his newer research continues to shape my understanding of growth. n nWhenever I feel uncertain about the future of the economy, I turn to Mokyr. His work is the foundation of my understanding of why some economies thrive, some stagnate and others decline. It offers both hope and a warning to countries navigating the current economic uncertainty, and sheds some light on big questions about the effect of artificial intelligence and the viability of the Chinese model. As an admirer of his work and in honor of his Nobel, I thought I would offer the five most important lessons of Joel Mokyr. n nContinue reading the entire piece here at Bloomberg Opinion n n______________________ n nAllison Schrager is a senior fellow at the Manhattan Institute and a contributing editor of City Journal. n nPhoto by Silas Stein/picture alliance via Getty Images