India, Oct. 20 -- China, and not Americans, or other westerners, deserved the Nobel Prize (economics) in 2025. Before we venture into this bizarre journey, or espouse on such disbeliefs, we say China, as a nation, and Americans, as individuals. Keep this distinction in mind as you read on. I have sound economic logic to back up my assertion. Let us first dispense with the formalities. The Nobel Prize in economics went to Joel Mokyr (Northwestern University), who got 50 per cent of the prize money, and Philippe Aghion (College de France), and John Hewitt (Brown University), who shared the other half.

The trio proved or demonstrated that capitalism is indeed the most superior form of economic organisation. They identified innovation, knowl...