Nobel Prize for Economic Science awarded to Bill Nordhaus and Paul Romer

The Nobel Prize for Economic Science goes to the great Bill Nordhaus — the founder of modern environmental economics, joint with Paul Romer, who founded the modern innovation-driven approach to understanding economic growth.

Paul Romer at the press conference announcing his Prize in Economic Science said “it is entirely possible for humans to produce less carbon. Once we start to try to reduce carbon emissions, we’ll be surprised that it wasn’t as hard as we anticipated.”

Professor Justin Wolfers of the University of Michigan says Romer and Nordhaus are worthy winners, for asking the ‘big questions’ about economics and the world we live in.