Developing economies may not have much control over the headwinds that they face today, but that does not mean that they are powerless. Much can be done not just to sustain moderate growth but also to secure a more prosperous… — Michael Spence Copy Share Image
My mother was strong-willed, demanding, and very supportive all at the same time. — 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 mathematical theory… — 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
During my Ph.D. program, I became interested in the informational structure of markets that turned into the work on signaling, which was the part… — 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 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 of learning… — Michael Spence 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, encouraging technological… — 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, it 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, design, etc.)… — Michael Spence 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. Receiving this… — Michael Spence 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 quality of… — Michael Spence Copy Share Image
