2018 Nobel Prize in economics awarded to William Nordhaus and Paul Romer

Back to basics, with an eye on global threats: The 2018 Nobel Prize in economics was awarded jointly to Yale’s William Nordhaus and NYU’s Paul Romer. The prize, official called the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, marries the work of Nordhaus and Romer and ties them back to the fundamental problem in economics: the management of scarce resources. The Royal Swedish Academy awarded Nordhaus the prize for “integrating climate change into long-run macroeconomic analysis” and Romer for “integrating technological innovations into long-run macroeconomic analysis.” We’re long this morning thank to a packed news day, so look in the coming days for a nice explainer on this year’s prize — and its relevance to Egypt.