Professor William D. Nordhaus, an economist from Yale who has
dedicated more than forty years attempting to convince governments
to address climate change through the imposition on a tax on carbon
emissions was awarded the 2018 Nobel Memorial Prize in
Economic Sciences. Professor Nordhaus has been called
"the father of climate-change
economics" and developed models to suggest
how governments can combat global warming. One key step endorsed by
Professor Nordhaus is a universal tax on carbon, which would
require polluters to pay for the costs that their emissions impose
on society.
Professor Nordhaus shares the prize with Paul M. Romer an
economist at New York University who has demonstrated that
government policy is critical in the development of technological
innovation. Both economists researched the unintended side effects
from economic activity, which includes climate change, and it
impacts growth over the long term. Professor Nordhaus developed an
integrated
