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2018, vol. 47, iss. 4, pp. 124-133
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William Nordhaus and Paul Romer: Causes and consequences of economic growth
Vilijam Nordhaus i Pol Romer - uzroci i posledice ekonomskog rasta
Abstract
The Nobel Prize in Economic Sciences for 2018 was awarded to two American scientists - William Nordhaus and Paul Romer - for integrating climate change, i.e. technological innovation into long-term macroeconomic analysis. Since the 1970s, Nordhaus has been developing economic approaches to global warming, including integrated economic and scientific models designed to identify an effective way to tackle climate change. In his research, Paul Romer deals with how the accumulation of ideas enables sustainable long-term economic growth and explains how economic decisions and market conditions influence the creation of new technologies. They point out the imperfections of the market and advocate for more pronounced state intervention, calling on policy makers to introduce appropriate economic measures, in which they see the right path towards better results, global progress and prosperity.
Sažetak
Nobelovu nagradu za ekonomiju u 2018. godini dobila su dvojica američkih naučnika - Vilijam Nordhaus i Pol Romer, za integrisanje klimatskih promena, odnosno tehnoloških inovacija u dugoročnu makroekonomsku analizu. Počev od sedamdesetih godina prošlog veka, Nordhaus razvija ekonomske pristupe globalnom zagrevanju, uključujući integrisane ekonomske i naučne modele sa ciljem utvrđivanja efikasnog puta za rešavanje problema klimatskih promena. Pol Romer se u svojim istraživanjima bavi time kako akumulacija ideja omogućava održiv dugoročni ekonomski rast i objašnjava na koji način ekonomske odluke i tržišni uslovi utiču na kreiranje novih tehnologija. Obojica ističu nesavršenosti tržišta i zalažu se za izraženije državne intervencije, apelujući na kreatore politika da uvedu odgovarajuće ekonomske mere, u čemu vide pravi put ka boljim rezultatima, globalnom napretku i prosperitetu.
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References
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*** (2018) Paul Romer and William Nordhaus Win the Economics Nobel. Economist, https://www.economist.com/finance-and-economics/2018/10/13/paul-romer-and-william-nordhaus-win-the-economics-nobel, pristupljeno 15.12.2018
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*** (2018) Popular Science Background: Integrating Nature and Knowledge into Economics. NobelPrize.org, https://www.nobelprize.org/uploads/2018/10/popular-economicsciencesprize2018.pdf, pristupljeno 15.12.2018
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*** (2018) Press release: The Prize in Economic Sciences 2018. NobelPrize.org, https://www.nobelprize.org/prizes/economic-sciences/2018/press-release/, pristupljeno 15.12.2018
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Appelbaum, B. (2018) 2018 Nobel in economics is awarded to William Nordhaus and Paul Romer. New York Times, https://www.nytimes.com/2018/10/08/business/economic-science-nobel-prize.html, pristupljeno 15.12.2018
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Grgas, G. (2018) Teorija ekonomista Paula Romera zapravo je savjet kako da postanemo bogati i živimo bolje. Novac.hr
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Nordhaus, D.W. (2018) Photo gallery. Nobel Media AB, NobelPrize.org. 2019, https://www.nobelprize.org/prizes/economic-sciences/2018/nordhaus/photo-gallery/, pristupljeno 15.12.2018
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Nordhaus, D.W. (2018) Biography. NobelPrize.org, https://economics.yale.edu/people/william-d-nordhaus, pristupljeno 15.12.2018
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Nordhaus, D.W. (2018) Banquet Speech. NobelPrize.org
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Romer, M.P. (2018) Biography. http://www.stern.nyu.edu/faculty/bio/paul-romer, pristupljeno 15.12.2018
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Romer, M.P. (2018) Photo gallery. Nobel Media AB, NobelPrize.org. 2019, https://www.nobelprize.org/prizes/economic-sciences/2018/romer/photo-gallery/, pristupljeno 15.12.2018
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