The 2025 Nobel Prize in Economics has sparked widespread discussion by underscoring a counterintuitive historical insight: sustained economic expansion is an anomaly in human history, while stagnation or decline has been the norm. The award recognizes groundbreaking research that challenges conventional assumptions about long-term prosperity. n nScholars behind the honored work demonstrate that, across centuries and civilizations, most societies experienced little to no improvement in living standards. Periods of measurable growth are largely confined to the last few hundred years and limited to specific regions. This perspective reframes modern economic development not as an inevitable trend but as a unique and fragile phenomenon. n nThe findings emphasize structural factors—such as institutional stability, innovation ecosystems, and property rights—that enabled certain economies to break away from historical patterns. Without these conditions, economies tend to revert to equilibrium states with minimal advancement. n nThe recognition of this research marks a pivotal moment in economic thought, urging policymakers to appreciate the exceptional nature of growth and the importance of nurturing the institutions that sustain it. n— news from (المصري اليوم)
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مفاجأة نوبل الاقتصاد هذا العام: النمو الاقتصادي استثناء في التاريخ البشري.. والركود هو الأصل المصري اليوم