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How We Create and Destroy Growth: A Nobel for Romer and Nordhaus October 8, 2018

Posted by OromianEconomist in Uncategorized.
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A Fine Theorem

Occasionally, the Nobel Committee gives a prize which is unexpected, surprising, yet deft in how it points out underappreciated research. This year, they did no such thing. Both William Nordhaus and Paul Romer have been running favorites for years in my Nobel betting pool with friends at the Federal Reserve. The surprise, if anything, is that the prize went to both men together: Nordhaus is best known for his environmental economics, and Romer for his theory of “endogenous” growth.

On reflection, the connection between their work is obvious. But it is the connection that makes clear how inaccurate many of today’s headlines – “an economic prize for climate change” – really is. Because it is not the climate that both winners build on, but rather a more fundamental economic question: economic growth. Why are some places and times rich and others poor? And what is the impact of these differences?…

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1. OromianEconomist - October 13, 2018
2. OromianEconomist - October 13, 2018

This year’s Nobel Prize in economics was awarded to a Python convert. https://qz.com/1417145/economics-nobel-laureate-paul-romer-is-a-python-programming-convert/

3. OromianEconomist - October 13, 2018

The Nobel prize in economics goes to Nordhaus and Romer for explaining our amazing capacity to create and destroy growth. https://qz.com/1416867/the-2018-nobel-prize-in-economics-goes-to-william-nordhaus-and-paul-romer/

4. OromianEconomist - October 13, 2018

Nobel prize in economics won by Nordhaus and Romer for work on climate change and growth – as it happened. ://www.theguardian.com/business/live/2018/oct/08/nobel-prize-2018-sveriges-riksbank-in-economic-sciences-awarded-live-updates

5. OromianEconomist - October 13, 2018

Nobel award recognizes how economic forces can fight climate change. https://theconversation.com/nobel-award-recognizes-how-economic-forces-can-fight-climate-change-104520


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