Paul Romer

Paul Romer is an influential American economist known for his work on the role of ideas and technology in economic growth. He developed the concept of "endogenous growth theory," which explains how investment in ideas and innovation can drive economic progress, rather than just physical capital or labor. Romer’s insights emphasize that policies promoting research and development can lead to sustainable growth. In 2018, he received the Nobel Prize in Economic Sciences for his contributions, which highlight the importance of knowledge and creativity in fostering economic development. His work underscores the connection between economics, technology, and societal advancement.