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Michael Spence

Michael Spence

Writing for PS since 2008
159 commentaries

Website

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 Advisor to General Atlantic, and Chairman of the firm’s Global Growth Institute. He serves on the Academic Committee at Luohan Academy, and chairs the Advisory Board of the Asia Global Institute. He was chairman of the independent Commission on Growth and Development, an international body that from 2006-10 analyzed opportunities for global economic growth, and is the author of The Next Convergence: The Future of Economic Growth in a Multispeed World (Macmillan Publishers, 2012).

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  1. Is It Time to Give Up on 1.5°C?
    spence157_plus49Construction PhotographyAvalonGetty Images_emissions plus49/Construction Photography/Avalon/Getty Images

    Is It Time to Give Up on 1.5°C?

    Dec 23, 2022 Michael Spence questions the value of clinging to an aspirational climate target that is becoming more remote by the day.

  2. Done With Deglobalization?
    spence156_SAUL LOEBAFP via Getty Images_bidenxi Saul Loeb/AFP via Getty Images

    Done With Deglobalization?

    Nov 25, 2022 Michael Spence sees reason to hope that the scales may soon tip back from international confrontation to cooperation.

  3. Secular Inflation
    spence155_Sean GallupGetty Images_higher prices inflation Sean Gallup/Getty Images

    Secular Inflation

    Oct 12, 2022 Michael Spence identifies a wide range of long-term price pressures that cannot be eased through traditional channels.

  4. Whither the ESG Revolution?
    spence154_Hiroshi WatanabeGetty Images_ESG Hiroshi Watanabe/Getty Images

    Whither the ESG Revolution?

    Sep 8, 2022 Michael Spence sees serious flaws in companies' approaches to advancing environmental, social, and governance goals.

  5. Make America Invest Again
    spence153_Alex WongGetty Images_bidenbill Alex Wong/Getty Images

    Make America Invest Again

    Aug 11, 2022 Michael Spence hopes that legislation like the CHIPS and Science Act signals a much-needed shift in US policymaking.

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  1. velasco133_sUSAN WALSHPOOLAFP via Getty Images_bidenvonderleyen Susan Walsh/Pool/AFP via Getty Images

    A Subsidy War Without Winners

    Andrés Velasco calls on policymakers to avoid petty conflicts and work together to encourage green investments.
  2. taniguchi1_Tomohiro OhsumiGetty Images_abemilitary Tomohiro Ohsumi/Getty Images

    Japan’s New Security Posture Is Abe’s Legacy

    Taniguchi Tomohiko explains how the government’s ambitious defense agenda expands on the late prime minister’s ideas.
  3. mazzucato50_Andrea BonettiGreek Prime Minister's Office via Getty Images_popefrancis Andrea Bonetti/Greek Prime Minister's Office via Getty Images

    For the Common Good

    Mariana Mazzucato outlines a new governance model for ensuring a fairer distribution of agency, risk, and reward.
  4. lopes12_PIUS UTOMI EKPEIAFP via Getty Images_fossil fuel worker PIUS UTOMI EKPEI/AFP via Getty Images

    Helping Middle-Income Energy Exporters Kick the Fossil-Fuel Habit

    Carlos Lopes explains what it will take for resource-rich economies to diversify and develop new revenue sources.
  5. op_boccaletti3_Michele LapiniGetty Images_italyflood

    The New European Frontier

    Giulio Boccaletti

    Given this summer's climate-driven disasters, one might think that the European political system would be devising comprehensive adaptation plans. But, despite some steps in the right direction, Europeans are only just waking up to the constitutional implications of a changing physical environment.

    thinks a changing climate will force the European Union finally to embrace its political nature.
  6. james200_Sean GladwellGetty Images_worldconnection Sean Gladwell/Getty Images

    The Poverty of Anti-Capitalism

    Harold James considers recent arguments against markets, globalization, and growth, finding them to be deeply flawed.
  7. stiglitz314_ Drew AngererGetty Images_jeromepowell Drew Angerer/Getty Images

    How Not to Fight Inflation

    Joseph E. Stiglitz sees little upside and much downside to further monetary-policy tightening by the US Federal Reserve.
  8. slaughter95_Ritesh ShuklaGetty Images_modi Ritesh Shukla/Getty Images

    Who Is Part of the Free World?

    Anne-Marie Slaughter urges US President Joe Biden to abandon a phrase that is better left in the twentieth century.
  9. wagner16_ Leon NealGetty Images_nuclear fusion FREDERIC J. BROWN/AFP via Getty Images

    Realism About Techno-Optimism

    Gernot Wagner laments that public debate about climate solutions is long on political grandstanding and short on nuance.

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