Former University Of Chicago Professor And Alum Wins Nobel Prize In Economics
CHICAGO (CBS) -- Paul Romer, a former University of Chicago professor and alumnus, was awarded the Nobel Prize in Economics Monday morning in Sweden.
Romer, who is on leave from New York University, shares the award with Yale economist William D. Nordhaus.
Romer's research "shows how the accumulation of ideas sustains long-term economic growth. He demonstrated how economic forces govern the willingness of firms to produce new ideas and innovations", according to the Nobel Prize committee.
"I hope the prize today could help everyone see that humans are capable of amazing accomplishments when we set about trying to do something," Romer said during a news conference with the Swedish Academy.
"If we set about trying to make the policy changes that are required here, we can absolutely make substantial progress towards protecting the environment—and do it without giving up the chance to sustain growth," said Romer.
BREAKING NEWS: ⁰The Royal Swedish Academy of Sciences has decided to award the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2018 to William D. Nordhaus and Paul M. Romer. #NobelPrize pic.twitter.com/xUs6iSyI7h
— The Nobel Prize (@NobelPrize) October 8, 2018
Romer received his bachelor of science in mathematics and doctorate in economics from the University of Chicago. He was a professor at the school from 1988-90.
The #UChicago community recognizes alumnus and former faculty Paul Romer, who early this morning was awarded the 2018...
Posted by The University of Chicago on Monday, October 8, 2018