"Romer demonstrates how knowledge can function as a driver of long-term economic growth. . . . Previous macroeconomic research had emphasised technological innovation as the primary driver of economic growth, but had not modelled how economic decisions and market conditions determine the creation of new technologies. Paul Romer solved this problem by demonstrating how economic forces govern the willingness of firms to produce new ideas and innovations."
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Businesspeople from the United StatesNobel laureates from the United StatesEconomists from the United StatesNobel laureates in EconomicsPeople from Denver
Original Language: English
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Press release announcing Romer as one of two recipients of the Nobel Memorial Prize in Economics for 2018 Royal Swedish Academy of Sciences. October 8, 2018.
https://en.wikiquote.org/wiki/Paul_Romer
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Paul Romer
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