William Nordhaus, Paul Romer win Nobel prize for economics

This year’s Nobel prize for economics has been awarded to William Nordhaus and Paul Romer of the United States for their work on sustainable growth. The research of the two US economists focuses on how climate change and technology have affected the economy.

The Royal Swedish Academy of Sciences said they had addressed some of our time’s most pressing questions on how to achieve sustainable growth. The academy said, Prof Nordhaus, of Yale University, was the first person to create a model that described the interplay between the economy and the climate The duo will receive nine million Swedish krona (equivalent to 7 crore and 32 lakh rupees.

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