“This depression is costing us, in an order of magnitude, back-of-the-envelope, 500 billion dollars per month,” the economist Paul Romer said. “If we can come up with a solution that costs us like eight to ten billion a month, we’re way ahead.”
"This depression is likely to be worse than the Great Depression of the 1930s." Former chief economist of the World Bank and Nobel laureate, Paul Romer, says the coronavirus crisis could "exacerbate tensions around the world".
Paul Romer argues the US will need to test people on a massive scale in order to get out of the coronavirus pandemic. “We can do about 100,000 tests a day right now. We need to get up to 20-30M tests a day.”
From the article: “Nobel Paul Romer'>Laureate Paul Romer has suggested that wide-scale testing and protective equipment could eventually make it safe enough to reopen parts of the economy before COVID-19 has been completely eradicated. “
BREAKING NEWS: The Royal Swedish Academy of Sciences has decided to award the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2018 to William D. Nordhaus and Paul M. Romer. #NobelPrize
William Nordhaus and Paul Romer, awarded the 2018 Prize in Economic Sciences, have designed methods that address some of our time’s most fundamental and pressing issues: long-term sustainable growth in the global economy and the welfare of the world’s population. #NobelPrize
Paul Romer told me it was a chart that got him into studying economics. He looked at this line and wondered how something like this is possible. Today, decades later, he wins the Nobel Prize for contributing to the answer on how it is possible. [source ]
Nobel Prize goes to the great Bill Nordhaus -- the founder of modern environmental economics, joint with Paul Romer, who founded the modern innovation-driven approach to understanding economic growth.
BREAKING: The Nobel Economics Prize has been awarded to William Nordhaus and Paul Romer for work on climate change and innovation.