Broadcast, Cable, and Creative Destruction: What This Year’s Nobel Teaches Us About Cord Cutting
The timing could hardly be better. As traditional television continues on its years-long decline—with millions of cable subscribers cutting the cord, broadcast audiences shrinking, and streaming splintering into a dozen rival platforms—this year’s Nobel Memorial Prize in Economic Sciences has gone to three scholars who have spent their careers studying this very kind of market transformation.
The Royal Swedish Academy of Sciences awarded the 2025 prize to Joel Mokyr, Philippe Aghion, and Peter Howitt for their research on innovation-driven economic growth. The committee highlighted their insights into the sources of long-term prosperity. For a detailed explanation of the laureates’ work, read Brian Albrecht post.
Their research is both revolutionary and relevant. Their ideas explain one of the most visible market transformations we can see from the comfort of our living rooms—the collapse of traditional television and the rise of streaming.