A Nobel for ennobling ingenuity

In scholarly work done more than three decades ago, economist Paul Romer proposed that societies look beyond the material drivers of long-term growth, such as oil, ports, or labor. Economic progress, he showed by dint of data, relies more on how well a society manages an intangible good: the discovery of new ideas that propel innovation. Dr. Romer, now at New York University, especially focused on ways to reward people who come up with useful ideas in technology or management.

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