The Nobel Prize in Economic Sciences 2018 has been awarded to William Nordhaus “for integrating climate change into long-run macroeconomic analysis” and Paul Romer “for integrating technological innovations into long-run macroeconomic analysis.” Their findings have significantly broadened the scope of economic analysis by constructing models that explain how the market economy interacts with nature and knowledge. This was reported on the official website of The Nobel Prize.
Watch the announcement of the 2018 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.— The Nobel Prize (@NobelPrize) October 8, 2018
Presented by Göran K. Hansson, Secretary General of The Royal Swedish Academy of Sciences. pic.twitter.com/y7G5cobP1b
The Nobel Prize was awarded to William D. Nordhaus for:
Laureate William Nordhaus’ research shows that the most efficient remedy for problems caused by greenhouse gas emissions is a global scheme of carbon taxes uniformly imposed on all countries. The diagram shows CO2 emissions for four climate policies according to his simulations. pic.twitter.com/tmxUE6MiLn— The Nobel Prize (@NobelPrize) October 8, 2018
Paul M. Romer was awarded for:
This year’s Economic Sciences laureate Paul Romer’s research shows how the accumulation of ideas sustains long-term economic growth. He demonstrated how economic forces govern the willingness of firms to produce new ideas and innovations. #NobelPrize pic.twitter.com/LeWDpiIHrF— The Nobel Prize (@NobelPrize) October 8, 2018
As it was reported earlier, James P. Allison and Tasuku Honjo were awarded with the Nobel Prize in Physiology or Medicine for their discovery of cancer therapy by inhibition of negative immune regulation.
It was noted that cancer kills millions of people every year and is one of humanity’s greatest health challenges. By stimulating the ability of our immune system to attack tumour cells, this year’s Nobel Prize laureates have established an entirely new principle for cancer therapy.
Also, we reported that Royal Swedish Academy of Sciences has decided to award the Nobel Prize in Chemistry 2018 with one half to Frances H. Arnold ”for the directed evolution of enzymes” and the other half jointly to George P. Smith and Sir Gregory P. Winter ”for the phage display of peptides and antibodies.”