By Michael Spence   PORTOVENERE, ITALY – As recently as three months ago, the global economy seemed to be on track for a

By Michael Spence, Joseph E. Stiglitz, and Jayati Ghosh NEW YORK – The United States expects to “celebrate independence” from COVID-19

By Michael Spence   MILAN – COVID-19 vaccination programs are gaining momentum as production capacity ramps up, and as

By Michael Spence   MILAN – Much economic commentary nowadays focuses on “divergence”: while broad equity-market indices are at

By Michael Spence FORT LAUDERDALE – As one advances in age, one tends to mark each new year by reflecting on the broader developments

By Micheal Spence     MILAN – The eighteenth-century British economist Adam Smith has long been revered as the founder of

By Michael Spence   MILAN – The eighteenth-century British economist Adam Smith has long been revered as the founder of modern

By Michael Spence   MILAN – For much of the post-World War II period, economic policy has focused on unemployment. The massive

By Michael Spence   MILAN – The global economy is undergoing very large structural shifts, driven by three megatrends. One is the