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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 Adviser 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. delong249_guoyaGetty Images_economicpie guoya/Getty Images
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    Utopia or Bust

    J. Bradford DeLong considers our options for both expanding and effectively slicing the proverbial economic pie.
  2. op_anheier13_CHRISTOF STACHEAFP via Getty Images_scholzbaerbockhabecklindner Christof Stache/AFP via Getty Images
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    Germany’s Reckoning

    Helmut K. Anheier

    Germany is now grappling with a host of difficult questions about its place in the world, the nature of its politics, and its most cherished values. For a pacifist society in a new age of conflict and war, everything must change if things are to remain the same.

     traces the contours of the country's debate, triggered by the Ukraine war, about its strategic future.
  3. coyle29_ Frank Rumpenhorstpicture alliance via Getty Images_chatgpt Frank Rumpenhorst/picture alliance via Getty Images
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    Preempting a Generative AI Monopoly

    Diane Coyle urges policymakers to take steps to counter the anti-competitive implications of a rapidly emerging market.
  4. nye238_Kevin DietschGetty Images_biden kishida Kevin Dietsch/Getty Images
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    Japan’s Strategic Imperative

    Joseph S. Nye, Jr. sees the country doubling down on its best option for ensuring national security and regional stability.
  5. zhang59_JADE GAOAFP via Getty Images_chinahousing Jade Gao/AFP via Getty Images
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    China’s Savings Conundrum

    Zhang Jun explains why – and how – the country must stimulate household consumption to achieve a robust recovery.
  6. BP inflation hawks China News Service / Contributor via Getty Images
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    The Flight of the Inflation Hawks

    Though the US Federal Reserve’s first interest-rate hike of 2023 is smaller than those that preceded it, policymakers have signaled that more increases are on the way, despite slowing price growth. But there is good reason to doubt the utility – and fear the consequences – of continued rate hikes, on both sides of the Atlantic.

  7. boly1_Giovanni MereghettiUCGUniversal Images Group via Getty Images_agriculture rwanda Giovanni Mereghetti/UCG/Universal Images Group via Getty Images
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    How to Transform African Agriculture

    Safia Boly & Omid Kassiri identify four principles that could help governments across the continent boost food security.
  8. borrell19_ FADEL SENNAAFP via Getty Images_ukrainewar Fadel Senna/AFP via Getty Images
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    Making Ukrainian Victory Possible

    Josep Borrell explains why continued military support and other forms of assistance remain critical.
  9. zizek13_OLGA MALTSEVAAFP via Getty Image_russian soldier OLGA MALTSEVA/AFP via Getty Images
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    Death or Glory in Russia

    Slavoj Žižek traces the religious and intellectual roots of the Kremlin’s increasingly morbid war propaganda.

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