The Nobel Prize in Economic Sciences 2018 has been awarded to 2 professors from the United States who developed new ideas of long-term, sustainable growth.
The Royal Swedish Academy of Sciences announced that the 2018 prize would be shared between Yale professor William Nordhaus and former World Bank chief economist Paul Romer of New York University.
Nordhaus is best known for showing how the climate interacts with the economy.
Romer’s research shone a light on how economic forces govern the willingness of firms to innovate.
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