Nobel econ. winner: Encourage growth in cities
26 views · Published 13 October 2018 · 1:43 · Indexed 25 September 2026
Channel: AP Archive · 2018 · News & Politics
(8 Oct 2018) The Nobel prize in economics was awarded Monday to one American who has studied the economics of climate change — and to another whose research on technological innovation has raised hopes that human beings are creative enough to do something about it. The Royal Swedish Academy of Sciences awarded the $1 million prize to William Nordhaus of Yale University and Paul Romer of New York University. Romer, who has studied why some economies grow faster than others, has produced research that shows how governments can advance innovation. Through his research into cities, Romer contends that governments can foster greater technological advancements and wealth if they invest more in the expansion of urban areas. "Cities make us smart. What it is is cities are the place to go if you want to learn about the modern world," he said. Romer also said that governments should encourage greater investment in science and technology research, and resist a growing culture that ignores science in favor of ideology. "It's a very important time for us to try and agree and support some process that establishes the facts because this process of better standards of living, better health, better opportunities, more equal opportunities," he said. Find out more about AP Archive: http://www.aparchive.com/HowWeWork Twitter: https://twitter.com/AP_Archive Facebook: https://www.facebook.com/APArchives Instagram: https://www.instagram.com/APNews/ You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/00039d220e008bcc00c7e05b77fa3268
