A short review of Nordhaus and Romer’s work
Paul Romer developed a growth theory with increasing returns to scale and Nordhaus is the father of modern environmental economics, which can be interpreted as growth with diminishing returns to scale.
A Nobel Prize for Breaking Through Hurdles Placed by Economists
By: Joshua Ganz – University of Toronto
Krugman on Nordhaus
The “Climate Casino” [Nordhaus’ latest book] is in no sense the work of someone skeptical about either the reality of global warming or the need to act now. He more or less ridicules claims that climate change isn’t happening or that it isn’t the result of human activity. And he calls for strong action: his best estimate of what we should be doing involves placing a substantial immediate tax on carbon, one that would sharply increase the current price of coal, and gradually raising that tax, more than doubling it by 2030.
Gambling with Civilization
By: Paul Krugman – City University of New York
Syll on Romer
The ‘Nobel prize’ in economics has almost exclusively gone to mainstream economists, and most often to Chicago economists. So how refreshing it is that we for once have a winner who has been brave enough to openly criticize the ‘post-real’ things that emanate from the Chicago ivory tower!
At last — Paul Romer got his ‘Nobel prize’
By: Lars P. Syll – Malmö University
Kudos to Nicola Gennaioli for correctly guessing the winners!
Experts pick their contenders for 2018 Nobel in economics
By: DAWN
