The 2018 Nobel Prize in Economic Science has been awarded to American economists, William D. Nordhaus and Paul M. Romer, for their work highlighting the importance of government policy in fostering sustainable economic growth.

The take-away, according to Justin Wolfers, a Professor of Economics and Public Policy at the University of Michigan is this:  “If you leave environmental markets alone, you won’t get good outcomes on the environmental side.”  The reason, he tells NPR is simple: “…every time you fire up your factory, you’re thinking about your profits.  At the same time, you are stinking up my greenhouse gasses.”

>Listen to the story https://www.npr.org/2018/10/08/655528999/nobel-prize-in-economics-to-be-announced-monday-morning