https://www.nobelprize.org/prizes/economic-sciences/2018/romer/lecture/

Watch Paul Romer's Nobel Prize Lecture: "The Possibility of Progress". As you watch, answer the following questions in a few sentences each.

(a) Romer describes three distinct forces that were seen to be holding back progress in the 1980s when he was in graduate school. What were they and why did they seem to be holding back growth?

(b) What is the key concept that Romer points to as what was omitted from Malthusian theory that allowed his theory to allow for sustained growth? Explain how Romer's theory avoids falling into the Malthusian logic that all resources are necessarily in fixed supply and the us vs them mentality.

(c) What are the two policy applications that Romer gives at the end of his speech? How do these policies contribute to increasing the capacity for sustained growth?