‘Green growth’ duo win Nobel prize - News Summed Up

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‘Green growth’ duo win Nobel prize

AFP, STOCKHOLMUS economists William Nordhaus and Paul Romer yesterday shared this year’s Nobel Prize in Economics for constructing “green growth” models that show how innovation and climate policies can be integrated with economic growth. Working independently, they have addressed “some of our time’s most basic and pressing questions about how we create long-term sustained and sustainable growth,” the Royal Swedish Academy of Sciences said in a statement. Nordhaus is a professor at Yale University, while Romer, the former World Bank chief economist, is at New York University’s Stern School of Business. The academy said their models, both developed in the 1990s, have “significantly broadened the scope of economic analysis.”Romer told the Swedish academy in a live telephone interview at the prize announcement that he was confident the world could reduce greenhouse gas emissions and still improve standards of living. “We can absolutely make substantial progress to protecting the environment and without giving up the chance for sustained growth,” he said.

Source: Taipei Times October 08, 2018 15:56 UTC