Regime Change in the Global Economy
By Michael Spence Michael Spence, a Nobel laureate in economics, is an emeritus professor at Stanford University and a senior
A World of Heat and Headwinds
By Michael Spence PORTOVENERE, ITALY – As recently as three months ago, the global economy seemed to be on track for a
Avoiding a K-Shaped Global Recovery
By Michael Spence, Joseph E. Stiglitz, and Jayati Ghosh NEW YORK – The United States expects to “celebrate independence” from COVID-19
The Shape of Global Recovery
By Michael Spence MILAN – COVID-19 vaccination programs are gaining momentum as production capacity ramps up, and as
Winners and Losers of the Pandemic Economy
By Michael Spence MILAN – Much economic commentary nowadays focuses on “divergence”: while broad equity-market indices are at
What My Younger Self Never Expected
By Michael Spence FORT LAUDERDALE – As one advances in age, one tends to mark each new year by reflecting on the broader developments
The Inequality of Nations
By Micheal Spence MILAN – The eighteenth-century British economist Adam Smith has long been revered as the founder of
The Inequality of Nations
By Michael Spence MILAN – The eighteenth-century British economist Adam Smith has long been revered as the founder of modern
Beyond Unemployment
By Michael Spence MILAN – For much of the post-World War II period, economic policy has focused on unemployment. The massive
The World’s Next Big Growth Challenge
By Michael Spence MILAN – The global economy is undergoing very large structural shifts, driven by three megatrends. One is the