The case for a Nobel to Peter Howitt

He was born in Canada, by the way.  Here is the GPT-5 coverage.  Excerpt:

Operationalizing Schumpeter: the Aghion–Howitt model (1992).
With Philippe Aghion, Howitt built a tractable model in which vertical, quality‑improving innovations drive growth but also destroy incumbents’ rents—formally embedding creative destruction in general equilibrium. The model delivered falsifiable predictions (e.g., cyclical equilibria, no‑growth traps, intertemporal “business‑stealing” incentives) and a normative agenda (balancing innovation incentives with obsolescence costs). It re‑centered long‑run growth on firm‑level R&D decisions and market structure rather than on exogenous technology.

Competition and step‑by‑step innovation.
Subsequent work integrated IO with growth by allowing “neck‑and‑neck” rivalry and step‑by‑step catch‑up. The central empirical claim—an inverted‑U between product‑market competition and innovation—reconciles Arrow‑style replacement effects with escape‑competition effects and has been confirmed on rich panel data. This literature provided a bridge from theory to measurable policy levers (entry, pricing power, markups).

Here is GPT-5 with a detailed presentation of the Aghion-Howitt model, apologies for any errors but I could not do it better.  Here is the Nobel Committee on Howitt.