BEIJING, Nov. 15 (China Economic Net) - Philippe Aghion, the 2025 Nobel laureate in economics, was appointed an Honorary Professor at the Central University of Finance and Economics (CUFE) on November 14 and delivered a lecture as part of the university's Nobel Laureate Lecture series. His visit brought one of the world's most influential growth economists to Beijing at a moment when global policymakers are seeking new engines of productivity amid technological disruption.

Aghion, known for advancing the Schumpeterian theory of "creative destruction," used the lecture to examine how innovation, market structure and artificial intelligence are reshaping modern growth dynamics. He underscored the central tension in Schumpeterian growth — monopoly rents that motivate firms to innovate but can also restrict market entry — noting that this tension is increasingly visible in today's highly concentrated digital and AI industries.

Drawing on new empirical findings, Aghion argued that the Schumpeterian framework provides powerful explanatory tools for understanding rising market concentration, elevated markups, unequal technological catch-up and the persistence of middle-income traps across economies. He also addressed one of the most debated questions in economic policy: whether AI will primarily destroy jobs.

Rejecting the pessimistic view, Aghion presented recent evidence showing that AI can boost productivity, create new tasks and expand employment when accompanied by pro-competition rules and sustained investment in education and human capital. "AI is not just a force of substitution; it is a force of creation — provided institutions allow it," he said.

The lecture attracted researchers and students, reflecting broad interest in Aghion's recent work on innovation, productivity and the economic effects of AI.

As part of CUFE's Nobel Laureate Lecture series, Aghion's visit is expected to encourage further academic exchange and deepen engagement with global research on growth and innovation.