Michael Spence
Hard Truths About Global Growth
NEW YORK – The world’s high-income countries are in economic trouble, mostly related to growth and employment, and now their distress is spi…
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Today's seismic shifts in the global economy have left advanced and developing countries alike struggling to restore – or sustain – economic growth. In these commentaries, written exclusively for Project Syndicate, Nobel laureate Michael Spence examines the policy challenges posed by structural change, and offers proposals aimed at smoothing countries' adjustment.
Michael Spence on Reinventing Growth
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Michael Spence
Tradable Prosperity
MILAN – The global economy is experiencing a major growth challenge. Many advanced countries are attempting to revive sustainable growth in …
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Michael Spence
Why Do Economies Stop Growing?
MILAN – Over the years, advanced and developing countries have experimented, sometimes deliberately and frequently inadvertently, with a var…
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Michael Spence
The Sustainability Mindset
MILAN – Markets and capitalist incentives have great strengths in promoting economic efficiency, growth, and innovation. And, as Ben Friedma…
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Michael Spence
Mind over Market
MILAN – In the 66 years since World War II ended, virtually all centrally planned economies have disappeared, largely as a result of ineffic…
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Michael Spence
The Exchange-Rate Delusion
MILAN – If one looks at the trade patterns of the global economy’s two biggest players, two facts leap out. One is that, while the United St…
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Michael Spence
The Global Jobs Challenge
NEW YORK – Over the past three decades, hundreds of millions of new workers have entered the global economy. They arrived with various level…
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Michael Spence
Closing America’s Growth Deficit
MILAN – As the American economy continues to sputter three years after the global financial crisis erupted, one thing has become clear: the …
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Michael Spence
Stagnant and Paralyzed
MILAN – The recent dramatic declines in equity markets worldwide are a response to the interaction of two factors: economic fundamentals and…
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Michael Spence
Adapt or Die
MILAN – In rapidly growing emerging markets, a combination of internal economic forces, supportive policies, and the shifting nature of the …
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