2 Americans win Nobel Prize for economics


American researchers William Nordhaus and Paul Romer have won the Nobel Prize for economics for their work examining the interplay of climate change and technological innovation, the Royal Swedish Academy of Sciences announced Monday.
Nordhaus, of Yale University, was the first economist to create a quantitative model that "describes the global interplay between the economy and the climate," showing that "the most efficient remedy for problems caused by greenhouse gases is a global scheme of universally imposed carbon taxes," the academy said. Romer, of New York University's Stern School of Business, helped provide the research that led to the endogenous growth theory, and has shed light on how economic forces steer companies' willingness to produce new ideas and innovations, CNBC reports.
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Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.
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