The 2025 Nobel Prize in Economics: A Conversation on Innovation, Technological Progress and Creative Destruction

The 2025 Nobel Prize in Economics: A Conversation on Innovation, Technological Progress & Creative Destruction

The Works of the 2025 Nobel Prize Winners: Joel Mokyr, Philippe Aghion and Peter Howitt

The ESA NSW Branch is delighted to host Professors Hugh Harley (University of Sydney) and Petr Sedláček (UNSW) for a discussion on the influential ideas recognised by the 2025 Nobel Prize in Economic Sciences.

This year’s laureates — Joel Mokyr, Philippe Aghion and Peter Howitt — were awarded the prize “for having explained innovation-driven economic growth.” Their research sheds light on how technological progress, innovation and creative destruction underpin sustained economic growth and long-run improvements in living standards.

The discussion will explore how technological advances transform economies, why innovation depends on open and dynamic institutions, and how creative destruction continues to shape productivity, prosperity and inequality today.

The conversation will be moderated by Professor David Orsmond (Macquarie University), who will guide reflections on the laureates’ contributions and their relevance for modern economic challenges.

Following the discussion, please join us for drinks and canapés, with the opportunity to continue the conversation with our speakers and fellow guests.

This in-person only event is a wonderful way to round off the year with an engaging discussion followed by time to connect, network and celebrate with the ESA community.

About the Speakers

👤 Professor Hugh Harley

Hugh Harley teaches economics at Sydney University, with a particular focus on understanding the world today in the context of the past 1000 years of global economic, legal, and social change. He is also Strategic Advisor to Seven Consulting, a leader in providing best-practice program management to Australian corporates, governments, and not-for-profits. He chairs the Board of Cancer Council Australia. Hugh has held executive and non-executive roles in banking and professional services, in Australia, Asia-Pacific, and globally, since 1987.

👤 Professor Petr Sedláček

Petr Sedláček is a Professor of Economics at the UNSW Business School. Prior to joining UNSW, he was a Professor at the University of Oxford, where he is still an Associate Member. His research primarily focuses on labour markets, worker and firm heterogeneity and the influence of startups and young businesses on the rest of the economy. Petr has advised the European Commission and his research has attracted several grants and awards.

About the Moderator

🎙️ Moderator – Professor David Orsmond

David Orsmond is Professor of Economics, Macquarie Business School and Director of Policy and Communications, Centre for Applied Artificial Intelligence at Macquarie University. He previously worked at the Reserve Bank of Australia, holding senior positions in the Financial Stability and Economic Analysis Departments. Dr Orsmond also spent an extended period at the International Monetary Fund working on economic stabilisation and technical assistance issues across numerous countries. He has written on a range of topics, including the emergence of artificial intelligence, regulatory policies in the financial sector, China’s economy and the mining sector. He holds a PhD from Duke University, a Bachelor of Economics (Hons) from the University of Sydney and completed studies in economic policy at the Kiel Institute for the World Economy in Germany.

Details and Registration

🗓️ Date: Wednesday, 3 December 2025
⏰ Time: Arrive from 5:45 pm for a 6:00 pm start, finishing approx. 8:30 pm
💰 Cost: $20 for Members / $40 for Non-Members (click here to join now)
📍 Venue: ArtHouse Hotel, Attic Bar, 275 Pitt Street, Sydney