How We Create and Destroy Growth: A Nobel for Romer and Nordhaus October 8, 2018
Posted by OromianEconomist in Uncategorized.trackback
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?…
View original post 3,487 more words
Read the link to find out Why is their work significant? http://qrius.com/meet-nobel-economics-prize-winners-william-d-nordhaus-and-paul-m-romer/
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/
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/
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
Nobel award recognizes how economic forces can fight climate change. https://theconversation.com/nobel-award-recognizes-how-economic-forces-can-fight-climate-change-104520