A combination picture shows William D. Nordhaus (L) and Paul Romer, who have won the 2018 Nobel Economics Prize, posing in undated photos provided to Reuters by Yale University and NYU Stern School of Business on October 8, 2018. Yale University/NYU Stern School of Business/Handouts via REUTERS.

The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2018 was awarded to William D. Nordhaus and Paul M. Romer for integrating climate change and technological innovation into long-run macroeconomic analysis.

William D. Nordhaus is a Professor of Economics at Yale University and Professor in Yale’s School of Forestry and Environmental Studies. His research has focused on economic growth and natural resources, the economics of climate change, as well as the resource constraints on economic growth. Paul M. Romer is Professor of Economics and Director of The Urbanization Project at NYU Stern School of Business. The Urbanization Project conducts applied research on the many ways in which policymakers in the developing world can use the rapid growth of cities to create economic opportunity and undertake systemic social reform.

We consider this a milestone. Sustainability in economics have reached the highest ranks and climate change was finally named as a major topics for economic science, like it has already been recognized in natural science for years. Both awarded professors, as we also do on a smaller scale, search for new ways to enable a sustainable economy.

#EcoMap #Sustainable Consumption #Change #Nobelprize #SustainableEconomics #ClimateChange

Picture from Reuters with the subtitle: "A combination picture shows William D. Nordhaus (L) and Paul Romer, who have won the 2018 Nobel Economics Prize, posing in undated photos provided to Reuters by Yale University and NYU Stern School of Business on October 8, 2018. Yale University/NYU Stern School of Business/Handouts via REUTERS."

Sources:

  • Info on Nobel Prize from Nobel Media website: https://www.nobelprize.org/prizes/lists/all-prizes-in-economic-sciences/
  • Info on William D. Nordhaus from Yale University website: https://economics.yale.edu/people/william-d-nordhaus
  • Info on Paul M. Romer from Stern School of Business website: http://www.stern.nyu.edu/faculty/bio/paul-romer