Faculty News

Professor Paul Romer's research on innovation and productivity growth is featured

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Excerpt from The Wall Street Journal -- "Mr. Romer’s breakthrough was to identify the unique characteristics of ideas, information and knowledge to growth: Unlike a machine or a worker, an idea, once conceived, can be reproduced and shared endlessly for free. The determinant of growth then is both how many ideas a society creates, and how quickly and efficiently they are distributed. The printing press, telegraph and universal education were all formidable innovations in the production and dissemination of ideas. Today, the computer, Internet, open-source collaboration and urbanization offer staggering potential for generating new ideas."

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