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Former Colorado Gov. Romer's Son Awarded Nobel Prize In Economics

DENVER (CBS4)- One of the winners of this year's Nobel Prize in economics is the son of former Colorado Gov. Roy Romer. Paul Romer was awarded the the 2018 Nobel Memorial Prize in Economics Sciences.

Romer, New York University Stern School of Business professor, shares the honor with William Nordhaus of Yale.

New York University Prof. Paul Romer Shares 2018 Nobel Prize In Economics
NEW YORK, NY - OCTOBER 08: New York University (NYU) professor Paul Romer speaks at a news conference after being named a winner of the 2018 Nobel Memorial Prize in Economics with professor William D. Nordhaus of Yale University on October 8, 2018 in New York City. Romer received the award for what the the Royal Swedish Academy of Sciences cited as his work "integrating technological innovations into long-run macroeconomic analysis.Ó Both Romer and NordhausÕs work has highlighted the global debate over the impact of climate change. (Photo by Spencer Platt/Getty Images)

In awarding the prize to Paul Romer, the Swedish Academy cited his contributions "for integrating technological innovations into long-run macroeconomic analysis."

"The real message is if you can work hard at something, you can get better at it," Paul Romer told CBS4. "People can become a genius at something by devoting their energies to it."

NOBEL PRIZE WINNER 6VO.transfer_frame_951
CBS4's Rick Sallinger interivews Paul Romer. (credit: CBS)

CBS4's Rick Sallinger spoke to former Gov. Roy Romer on Monday morning and he said, "I am really pleased for Paul as you know has been working on these theories for a long while he made a great contribution to economics."

Paul said of his father, "He was the one who modeled for me more than anyone, you just work hard."

Romer is on leave from NYU and joined NYU Stern in 2010. He founded the NYU Stern Urbanization Project a year later where he conducted applied research on the many ways that policy makers in the developing world can use the growth of cities to create economic opportunity and pursue social reform.

"The old Adam Smith supply and demand theories were expanded by his view on technology and it had a lot to do to explain the growth we've had in the last 25 years in the world," said Roy Romer.

According to the Associated Press, Romer ignored two telephone calls, thinking they were spam calls, before the Swedish Royal Academy of Sciences was able to get through to him. He said that on Monday morning "I didn't answer either because I thought it was a spam call."

"We have to keep pushing the edge and keep learning and discovering," said Paul Romer.

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