Nobel Laureate Mokyr: "Korea's Challenge Is the World's Lowest Birth Rate... AI Is a Tool for Knowledge Advancement, Not a Threat to Humanity"

2025 Nobel Laureate in Economics Joel Mokyr Press Conference
"Korea is a successful country... Must maintain openness and top-tier technology"
North and South Korea, a prime example of the importance of institutions
Escaping poverty with U.S. sup

"Korea is a successful country and must continue to keep its borders open and stay connected to the world’s top technologies, just as it has done so far. The only problem is that Korea has the lowest birth rate on Earth, so more children need to be born."

Joel Mokyr, professor at Northwestern University in the United States and recipient of the 2025 Nobel Prize in Economic Sciences, held a press conference on the 13th (local time).

Joel Mokyr, professor at Northwestern University in the United States and recipient of the 2025 Nobel Prize in Economic Sciences, made these remarks in response to questions from Korean reporters about Korea's innovation and strategies for sustained growth during a press conference held immediately after the award announcement on the 13th (local time).

Professor Mokyr cited openness and technological innovation as the key factors behind Korea’s success. He said, "In the 1950s, Korea had a very low per capita income, but today it has achieved miraculous growth and joined the ranks of wealthy nations. Korea should continue to open its borders and remain connected to the world’s best technologies, as it has done until now."

As an example of technological innovation, he pointed to the automotive industry. He said, "They (Koreans) build cars that run and keep running," adding, "There are concerns about the future of the Korean economy, but many countries would want to trade places with Korea."

Professor Mokyr also mentioned the difference in systems between South and North Korea, a frequent topic in his lectures. He said, "When I lecture on institutions, I always introduce South and North Korea as a classic contrast. It shows that a country with rational institutions becomes much wealthier than one with poor institutions." He added, "Countries like North Korea or Myanmar are the real concerns."

He also assessed that support from the United States, as an ally, contributed to Korea’s success amid the geopolitical risks of being adjacent to China. Professor Mokyr said, "Korea is a small country right next to a very large one, and that (geopolitical location) has not always worked in Korea’s favor. Korea was able to escape poverty thanks to support from the United States. That was necessary."

He identified low birth rates as the only risk threatening Korea’s continued growth. He said, "Korea has the lowest birth rate on the planet," highlighting that the low birth rate and demographic changes are major issues that could lead to stagnation.

Regarding artificial intelligence (AI), he said, "It is not a monster that will destroy humanity and take over the world, but simply a tool." He stated, "The idea that machines are more intelligent than humans is completely absurd. AI can aggregate and process information quickly, but it lacks human initiative, intuition, and ambition." He continued, "Just as the development of tools like microscopes, telescopes, and lasers advanced science, AI is simply one of those tools."

On the impact of AI on the labor market, he said, "Machines do not replace humans but allow us to do more interesting and challenging work. As AI takes over (simple) tasks, humans will move to higher-level jobs." He also emphasized, "What is concerning is not technological unemployment, but a shortage of labor. The number of people working and paying taxes is decreasing, while those receiving social security benefits are increasing. If demographics cannot solve this, technology must."

On this day, the Royal Swedish Academy of Sciences’ Nobel Committee selected Joel Mokyr, professor of economics at Northwestern University; Philippe Aghion, professor of economics at the London School of Economics; and Howitt, professor of economics at Brown University, as the recipients of this year’s Nobel Prize in Economic Sciences. The Nobel Committee stated that Professor Mokyr demonstrated the importance of being open to new ideas and allowing change, as technological innovation is a process that challenges existing interests.