52 Quotes by Paul Romer

There are new things we need to do in the labor market, in education, and in thinking about the future of energy sources. As long as we do those things everything really can turn out fine. But if we don't do them, we're going to be disappointed.

One of the most powerful insights in economics is this idea of a division of labor. You do the thing you're good at. Other people do something else that they're good at. The net effect is better for everybody.

Unfortunately, we don't have a bankruptcy process. Suppose the state actually just gets to the point where it cannot meet all of its promises that it's made. We might need a way to figure out, O.K., well, who's not going to get what they were promised? This is what we had to do for the city of Detroit.

We live in a much more interconnected world now, and that means that it's more fragile than we realize.

The gains from specialization go all the way back to Adam Smith. He talked about the advantage of a bigger market being that we could have a finer division of labor and be more specialized.

The general message is about a bigger global integrated economy is going to lead to faster growth, that policy could improve efficiency by getting more research going.

So you could have a very institutionally well-developed economy that's still very low in terms of its technological success. That would be unexpected.

Good law includes a commitment to transparency and an insistence that no person or entity with a conflict of interest should have influence on public policy decisions.

Charter Cities has been approached in many different ways, by many people acting as individuals or as representatives of organizations.