Paul M. Romer is the STANCO 25 Professor of Economics in the Graduate School of Business at Stanford University and the Ralph Landau Senior Fellow at the Stanford Institute for Economic Policy Research (SIEPR). Professon Romer was the lead developer of "new growth theory." This body of work emphasized the lasting effect that institutions and policies could have on the trend rate of economic growth. It moved scientific discovery, technological change, innovation, and productivity growth back to the center of macroeconomic analysis.
In 1997, Time Magazine named Professor Romer one of America's 25 most influential people. He is a fellow of the American Academy of Arts and Sciences, the Econometric Society, and a research associate of the National Bureau of Economic Research, and holds a Ph.D. in economics from the University of Chicago.