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Michael Spence

Michael Spence

Writing for PS since 2008
175 commentaries

Michael Spence, a Nobel laureate in economics, is Professor of Economics Emeritus and a former dean of the Graduate School of Business at Stanford University. He is Senior Fellow at the Hoover Institution, Senior Adviser to General Atlantic, and Chairman of the firm’s Global Growth Institute. He is Chair of the Advisory Board of the Asia Global Institute and serves on the Academic Committee at Luohan Academy. He is a former chair of the Commission on Growth and Development and a co-author (with Mohamed A. El-Erian, Gordon Brown, and Reid Lidow) of Permacrisis: A Plan to Fix a Fractured World (Simon & Schuster, 2023).

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  1. Europe Needs a New Economic Vision
    spence175_eu unnivation iStock / Getty Images Plus/greenbutterfly

    Europe Needs a New Economic Vision

    Aug 21, 2024 Michael Spence is confident that the European Union can make up ground lost to the US and China – if it knows what it wants.

  2. The Economics of Philanthropy
    spence174_ David RyderGetty Images_gates foundation David Ryder/Getty Images

    The Economics of Philanthropy

    Jul 4, 2024 Michael Spence proposes mechanisms for inducing the wealthy to support public goods at a time of rising inequality.

  3. Crunch Time for the Power Sector
    spence173_ Joe RaedleGetty Images_power Joe Raedle/Getty Images

    Crunch Time for the Power Sector

    May 17, 2024 Michael Spence argues that developing flexible, stable, and resilient smart grids requires an expanded industrial policy.

  4. The Indian Giant Has Arrived
    op_elerian1_ Debarchan ChatterjeeNurPhoto via Getty Images_indiapopulation Debarchan Chatterjee/NurPhoto via Getty Images

    The Indian Giant Has Arrived

    Mar 22, 2024 Mohamed A. El-Erian & Michael Spence consider the risks and challenges associated with the country's rapidly expanding global footprint.

  5. Making Sense of Society
    spence170_Biplov BhuyanHindustan Times via Getty Images_wsupreme court india Biplov Bhuyan/Hindustan Times via Getty Images

    Making Sense of Society

    Feb 29, 2024 Michael Spence considers why a healthy civil society is crucial to good governance and inclusive prosperity.

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  1. yi15_Kevin FrayerGetty Images_chinababy Kevin Frayer/Getty Images
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    China Shuts Down Its International-Adoption Machine

    Yi Fuxian welcomes the government's apparent recognition that a severe demographic crisis looms.
  2. anelson1_MARCO LONGARIAfpAFP via Getty Images_senegalelection Marco Longaria/AFP via Getty Images
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    From the Year of Elections to the Year of Governance

    Adam Nelson & Kristen Sample highlight five major challenges reformist governments must confront to minimize populist threats.
  3. berglof39_LUIS TATOAFP via Getty Images_africarenewableenergy Luis Tato/AFP via Getty Images
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    Africa’s Path to Green Prosperity

    Erik Berglöf highlights the potential that a young population and abundant renewable-energy resources represent.
  4. ghosh80_MUNIR UZ ZAMANAFP via Getty Images_plasticpollution Munir Uz Zaman/AFP via Getty Images
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    Saving the Planet from Plastics

    Jayati Ghosh explains why recycling alone is not enough to mitigate the health and climate effects of overproduction.
  5. bp trump harris debate Photo by Demetrius Freeman/The Washington Post via Getty Images
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    What Harris and Trump Will Do

    With less than two months to go until the US presidential election, the candidates’ opposing worldviews, objectives, and priorities – and their implications for international relations, the economy, and democracy – have come into sharper focus. While it is impossible to know exactly what a leader will do once in office, the contours of both a Donald Trump and a Kamala Harris presidency are remarkably well defined.

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    The Big Picture

    PS editors
  7. op_drochon4_LUDOVIC MARINPOOLAFP via Getty Images_macron Ludovic Marin/Pool/AFP via Getty Images
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    Macron’s Trial by Fire

    Hugo Drochon

    Since the start of the Olympic Summer Games in Paris, Emmanuel Macron has reclaimed the initiative and confronted a political situation that is in many ways unprecedented for a French president. Not only has the center held, but the country may have a return to political stability in its sights.

     reflects on the French president's efforts to maintain control after a painful election season.
  8. velasco151_SAUL LOEBAFP via Getty Images_harris Saul Loeb/AFP via Getty Images
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    Kamala Harris’s Liberal Patriotism

    Andrés Velasco & Daniel Brieba explain why the Democratic US presidential candidate's appeal to love of country is good politics.
  9. fofack27_ BENSON IBEABUCHIAFP via Getty Images_nigeriaprotests Benson Ibeabuchi/AFP via Getty Images
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    Confronting Africa’s Cost-of-Living Crisis

    Hippolyte Fofack urges governments to rethink constraints on public spending and increase investment in human capital.

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