Europe Urged by Nobel Prize Winner to Stop Technological Decline

Europe must do more to foster innovation and stop leaning on other parts of the world for technological advancement, according to Philippe Aghion, who jointly won the 2025 Nobel Prize for economics.

The continent “has been the kind of ‘Sleeping Beauty’ over the past 30, 40 years,” the French economist told Bloomberg Television in Paris. “They thought they could rely on the US, on others, and not invest heavily in breakthrough high-tech innovation and defense.”