New Delhi | The American duo of Economist William D. Nordhaus and Paul M. Romer on Monday were announced the 2018 winner of the Nobel Prize for Economics.
William D. Nordhaus was awarded for his work on climate change while Paul M. Romer is awarded for his work on the endogenous growth theory. The Nobel Prize committee on Monday on it official twitter handle announced, “William Nordhaus and Paul Romer, awarded the 2018 Prize in Economic Sciences, have designed methods that address some of our time’s most fundamental and pressing issues: long-term sustainable growth in the global economy and the welfare of the world’s population.”
William Nordhaus and Paul Romer, awarded the 2018 Prize in Economic Sciences, have designed methods that address some of our time’s most fundamental and pressing issues: long-term sustainable growth in the global economy and the welfare of the world’s population. #NobelPrize pic.twitter.com/8WccazjrBb
— The Nobel Prize (@NobelPrize) October 8, 2018
The Committee in an issued statement wrote, “William D. Nordhaus and Paul M. Romer have designed methods for addressing some of our time’s most basic and pressing questions about how we create long-term sustained and sustainable economic growth.”
William D. Nordhaus, 77 is a Ph.D. from Massachusetts Institute of Technology and currently a Sterling Professor of Economics at the Yale University. While Paul M. Romer, 61 is a Ph.D. from University of Chicago and works as a Professor at NYU Stern School of Business.
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