My mother was strong-willed, demanding, and very supportive all at the same time. — Michael Spence Copy Share Image
Globalization is the process by which markets integrate worldwide. — Michael Spence Globalization Copy Share Image
With external help, even the countries ravaged by World War II recovered. — Michael Spence Copy Share Image
Monetary policy should never have been expected to shift economies to a sustainably higher growth trajectory by itself. — Michael Spence Customer Copy Share Image
Education is, in the end, about individual interactions and about learning. — Michael Spence Education Copy Share Image
Whatever advantage Trump thinks he will gain by positioning the U.S. in opposition to its natural allies will be dwarfed by the… — Michael Spence Allies Copy Share Image
Reforms aimed at increasing an economy's flexibility are always hard - and even more so at a time of weak growth -… — Michael Spence Economics Copy Share Image
During my Ph.D. program, I became interested in the informational structure of markets that turned into the work on signaling, which was… — Michael Spence Copy Share Image
We tend to think that employment is employment, and we don't ask the question: is this rewarding employment? Research establishes pretty clearly… — Michael Spence Copy Share Image
Labor, no matter how inexpensive, will become a less important asset for growth and employment expansion, with labor-intensive, process-oriented manufacturing becoming a… — Michael Spence Copy Share Image
Robotics has already made significant inroads in electronics assembly, with sewing trades - traditionally many countries' first entry point to the global… — Michael Spence Copy Share Image
Actions aimed at supporting deleveraging and balance-sheet repair - such as recognizing losses, writing down assets, and recapitalizing banks - carry longer-term… — Michael Spence Copy Share Image
All countries will eventually need to rebuild their growth models around digital technologies and the human capital that supports their deployment and… — Michael Spence Copy Share Image
I picked economics at the end of my undergraduate time because it seemed to be a really nice combination of theory, including… — Michael Spence Economics Copy Share Image
Although everyone does benefit from lower-priced goods and services, people also care greatly about the chance to be productively employed and the… — Michael Spence Chance Copy Share Image
I was not thinking about infinite multipliers when I was 10. But I did have a father who was a Ph.D. in… — Michael Spence Business Copy Share Image
For physical goods, there are costs associated with logistics and lead times, owing to inventories and poor forecasts of the market. With… — Michael Spence Investing Copy Share Image
One way to measure the size of a company, industry, or economy is to determine its output. But a better way is… — Michael Spence Copy Share Image
Digitally enabled supply chains initially increased efficiency and dramatically shortened lead times. Capital was mobile; labor, less so. Economic activity (production, research,… — Michael Spence Country Copy Share Image
A split between the U.S. and its traditional allies, if it becomes a permanent feature of the new global order, would lead… — Michael Spence Balance Copy Share Image
Properly targeted public investment can do much to boost economic performance, generating aggregate demand quickly, fueling productivity growth by improving human capital,… — Michael Spence Economics Copy Share Image
China's economic transformation began with the introduction in the 1980s of market incentives in the agricultural sector. These reforms were followed by… — Michael Spence Change Copy Share Image
On their own, tariff and trade barriers, if viewed as transitory negotiating tactics, will not significantly change global investment patterns or the… — Michael Spence Barriers Copy Share Image
Next to my family, it seems clear to me that the educational institutions and the teachers from whom I had the privilege… — Michael Spence Copy Share Image
In economies with excess productive capacity, targeted investment can yield a double benefit, generating short-run demand and boosting growth and productivity thereafter. — Michael Spence Economics Copy Share Image
China's continued growth and rising household income are creating opportunities for lower-income economies in low-cost manufacturing. — Michael Spence China Copy Share Image
For highly indebted governments, low interest rates are critical to keep debt levels sustainable and ease pressure to restructure debt and recapitalize… — Michael Spence Copy Share Image
There is no question that the recovery from the global recession triggered by the 2008 financial crisis has been unusually lengthy and anemic. — Michael Spence Copy Share Image
Developing economies may not have much control over the headwinds that they face today, but that does not mean that they are… — Michael Spence Control Copy Share Image
A global economy that is levering up, while unable to generate enough aggregate demand to achieve potential growth, is on a risky… — Michael Spence Copy Share Image
The research side of academic life is often viewed from the outside as a solo and, at times, lonely activity. In fact,… — Michael Spence Academic life Copy Share Image
It is a wonderful and unexpected honor to receive the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel.… — Michael Spence Copy Share Image
Productivity gains are vital to long-term growth because they typically translate into higher incomes, in turn boosting demand. That process takes time,… — Michael Spence Growth Copy Share Image
Globalization has redefined the competition for employment and incomes in the United States. Tradeoffs will have to be made between the two. — Michael Spence Competition Copy Share Image
The combination of a workable basic formula and the capacity to improve over time is what one hopes for in any aspect… — Michael Spence Business Copy Share Image
My father once said about being a parent that it is the only thing you do that requires a very long period… — Michael Spence Child Copy Share Image
