Paul Romer

endogenous growth; ideas as nonrival.

Paul Romer is a professor at NYU's Stern School of Business and former Chief Economist of the World Bank. He was awarded the Nobel Memorial Prize in Economic Sciences in 2018 for integrating technological innovation into long-run macroeconomic analysis. His 1990 model showed that intentional investment in knowledge and ideas — not just capital or labour — is the engine of growth.