\u201cI hope the prize today could help everyone see that humans are capable of amazing accomplishments when we set about trying to do something.\u201d<\/b>
\nCHICAGO (CBS) \u2014 Paul Romer, a former University of Chicago professor and alumnus, was awarded the Nobel Prize in Economics Monday morning in Sweden.
Romer, who is on leave from New York University, shares the award with Yale economist William D. Nordhaus.
Romer\u2019s research \u201cshows 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\u201d, according to the Nobel Prize committee.
\u201cI hope the prize today could help everyone see that humans are capable of amazing accomplishments when we set about trying to do something,\u201d Romer said during a news conference with the Swedish Academy.
\u201cIf we set about trying to make the policy changes that are required here, we can absolutely make substantial progress towards protecting the environment\u2014and do it without giving up the chance to sustain growth,\u201d said Romer.
Romer received his bachelor of science in mathematics and doctorate in economics from the University of Chicago. He was a professor at the school from 1988-90.<\/p>\n

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