The second Nobel Laureate is Paul Romer.
...Most importantly, (click here) Romer won the Prize for seeing how the non-rival nature of ideas can boost ongoing and indeed “endogenous” economic growth. Romer also showed mathematically that this process of growth is bounded, namely that it does not explode without limit, and that the associated mathematical models were tractable....
A civilized society that has achieved a pinnacle of development and considered a "First World" country is responsible for its economy and impact of that economy. This Nobel Prize was awarded in realizing a country's economy has an impact that does not simply profit, but, also loss. The loss in this model includes the impact of adverse climate on the economy. The Climate Crisis is causing loss. That is a fact. In realizing the impact of the climate on the economy there is a great deal of loss. Loss is not growth. Haphazard loss is a poorly conceived economic strategy for a First World economy.
Crop losses are noted in "commodity prices" and not the impact on the farmer.
Storm losses are reflected in government debt and not the well being of the people.
There is a lot missing when one assesses the current economy that was nothing more than a bailout of Wall Street in tax breaks. Wall Street will reflect a disaster when the economy collapses as in 2008, but, it never reflects the continuing GROWTH of environmental danger.
There is no clear indicator that is measured as other economic measures that indicate the enormous loss within an economy due to the climate crisis. There is only government scrambling to bring in FEMA and reduce losses to the economic strength of a consumer. That FEMA quotient shows up nowhere in calculating of First World economy.
