‘Proud moment’ as Western alum wins Nobel Prize in Economics

Peter Howitt. (Source: Brown University)

The president of Western University says it is a “proud moment for Western” after learning an honorary professor and grad won a Nobel Prize in Economics.

Peter Howitt won the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2025.

The 79 year old won the prize “for the theory of sustained growth through creative destruction.”

Alan Shepard said in a statement that they are thrilled to celebrate Howitt’s accomplishments.

“His pioneering work has transformed how we think about innovation and economic growth. Much of his work as an economist was conducted at Western,” said Shephard.

“Peter was a professor of economics at Western from 1972 to 1996 and continues to hold an Honorary Professorship. His Nobel win is a powerful reflection of the excellence of Western’s storied economics department, which consistently ranks among the best in the world. This is a proud moment for Western.”

Howitt received his bachelor’s degree in economics from Montreal’s McGill University and his master’s degree from Western University. He is a professor of social sciences at Brown University in Rhode Island.

Howitt was one of three people who the prize on Monday.

— With files from the Canadian Press.