Nobel Prize-winning economist says carbon taxes are the solution to climate change

‘The problem is not knowing what to do,’ says Paul Romer, ‘The problem is getting a consensus to act’ Paul Romer – whose work focuses on adapting economic theory to take better account of environmental issues and technological progress – says this crisis can easily be averted through economic policy. 6:45 Just hours before William Nordhaus and Paul Romer won a Nobel Prize on Monday for their work on the economics of climate change, the UN issued a dire warning about global warming . ADVERTISEMENT The report from the Intergovernmental Panel on Climate Change says that an extra single degree of heat could make a life-or-death difference in the next few decades for multitudes of people and ecosystems on this fast-warming planet. But Romer — whose work focuses on adapting economic theory to take better account of environmental issues and technological progress — says this crisis can easily be averted through economic policy. The economist from New York University’s Stern School of Business spoke with As It Happens host Carol Off. Here is part of their conversation. I always hate to ask this question, but in a nutshell, can you describe your life’s work? A lot of economics is […]

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