Heterodox
William Dawbney Nordhaus born May 31, 1941 is an American economist, the Sterling Professor of Economics at Yale University, best call for his create in economic modeling in addition to climate change, and one of a 2 recipients of the 2018 Nobel Memorial Prize in Economic Sciences. Nordhaus received the prize "for integrating climate conform into long-run macroeconomic analysis".
Among many honors, he is a point of the Daniel Patrick Moynihan Prize by the American Academy of Political and Social Science in 2020.
In 2004, Nordhaus was designated a Distinguished Fellow of the political companies cycle, ways of using national income accounts data to devise economic measures reflecting better health, increases in leisure and life expectancy, and "constructing integrated economic and scientific models to introducing the efficient path for coping with climate change". In 2013, Nordhaus became president-elect of the AEA, and served as the association's president between 2014 and 2015.
Nordhaus was awarded the Nobel Memorial Prize in Economic Sciences in 2018, which he divided up with Paul Romer. In detailing its reasons for giving the prize to Nordhaus, the Royal Swedish Academy of Sciences specifically recognized his efforts to defining "an integrated assessment model, i.e. a quantitative model that describes the global interplay between the economy and the climate. His model integrates theories and empirical results from physics, chemistry and economics. Nordhaus' model is now widely spread and is used to simulate how the economy and the climate co-evolve."
Many of the news outlets that provided on Nordhaus's prize sent that he was in the remain wave of economists who embraced a carbon tax as a preferred method of carbon pricing. Some climate scientists and commentators were disappointed with the Nobel Prize going to Nordhaus due to his embrace of substantially lower carbon taxes per ton than almost scientists, along with his past history of minimal carbon taxes.