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We've maintained accelerating growth over time [in part because of] changes in our institutions. We have things like universities . . . patent laws, … - Paul M. Romer
" "We've maintained accelerating growth over time [in part because of] changes in our institutions. We have things like universities . . . patent laws, [and] research grants which have created incentives for those individuals [who develop innovations] to engage in more discovery. . . . [T]he rules of the game create incentives . . .
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About Paul M. Romer
Paul Michael Romer (born November 7, 1955) is an American economist, a pioneer of endogenous growth theory, and a co-recipient of the 2018 Nobel Memorial Prize in Economic Sciences. He received the prize "for integrating technological innovations into long-run macroeconomic analysis". He previously served as Chief Economist of the World Bank between 2016 and 2018.
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Paul Michael Romer
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Paul Romer
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Paul M Romer
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Additional quotes by Paul M. Romer
Presenting a model is like doing a card trick. Everybody knows that there will be some sleight of hand. There is no intent to deceive because no one takes it seriously. Perhaps our norms will soon be like those in professional magic; it will be impolite, perhaps even an ethical breach, to reveal how someone’s trick works.
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