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Michael Spence

Michael Spence

Writing for PS since 2008
156 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 Advisor 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. 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.

  2. 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.

  3. The Supply-Side Fight Against Inflation
    spence152_Yu Fangping  CostfotoFuture Publishing via Getty Images_supply inflation Yu Fangping / Costfoto/Future Publishing via Getty Images

    The Supply-Side Fight Against Inflation

    Jul 1, 2022 Michael Spence explains how economies can rein in accelerating price growth without tipping into recession.

  4. The Global Economy in Transition
    spence151_ TIMOTHY A. CLARYAFP via Getty Images_stockmarket Timothy A. Clary/AFP via Getty Images

    The Global Economy in Transition

    May 31, 2022 Michael Spence assesses the likely trajectories of economic growth, inflation, innovation, and the shift to green energy.

  5. Good US-China Strategic Competition
    spence150_NICOLAS ASFOURIAFP via Getty Images_technologymanufacturing Nicolas Asfouri/AFP via Getty Images

    Good US-China Strategic Competition

    May 2, 2022 Michael Spence makes the case for an approach to technological development that bolsters global growth and innovation.

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  1. signe10_ISSOUF SANOGOAFP via Getty Images_africatextilemanufacturing Issouf Sanogo/AFP via Getty Images

    The Key to Unlocking Africa’s Economic Potential

    Landry Signé explains why fostering trade integration and regional value chains is essential for the continent to prosper.
  2. james196_Michael M. SantiagoGetty Images_unitednations Michael M. Santiago/Getty Images

    Geopolitical Davids and Goliaths

    Harold James considers lessons from smaller countries about how to wield power and influence in the twenty-first century.
  3. barroso10_MAMYRAELAFP via Getty Images_covax MAMYRAEL/AFP via Getty Images

    Preparing for the Next Global Catastrophe

    José Manuel Barroso explains why global leaders must focus on creating equitable response mechanisms ahead of the next crisis.
  4. bergamaschi2_ ALBERTO PIZZOLIAFP via Getty Images_heatwave italu ALBERTO PIZZOLI/AFP via Getty Images

    Italy’s Next Government Must Tackle Climate Security

    Luca Bergamaschi shows why the country’s politicians can no longer afford to ignore a major threat to national security.
  5. Tubiana13_Getty Images Getty Images

    Europe and the New Non-Alignment

    Laurence Tubiana

    Despite the massive civilian suffering in Ukraine, many countries have been wary of taking sides, owing both to a perception of European double standards and to Russia’s leverage over energy and commodity prices. But while new geopolitical dynamics have complicated climate advocacy, they certainly haven't derailed it.

    sees both challenges and opportunities for climate policy in an era of geopolitical fragmentation.
  6. cliffe7_ EDUARDO SOTERASAFP via Getty Images_drought eastern africa EDUARDO SOTERAS/AFP via Getty Images

    The Sting of Climate Risk Is in the Tails

    Mark Cliffe thinks conventional models have overemphasized the long term at the expense of more immediate threats.
  7. agar7_Getty Images_ai teacher Getty Images

    Should Humanities Professors Be Automated?

    Nicholas Agar considers the implications of recent successes with AI-generated academic research and writing.
  8. GettyImages-1242343947 SOPA Images / Contributor via Getty Images

    Should Energy Companies’ Windfall Profits Be Taxed?

    Imposing a one-off tax on energy companies’ extraordinary profits might seem like a no-brainer at a time of soaring inflation, but the idea has more than a few detractors. As policymakers in a growing number of economies move ahead, we asked PS commentators whether they are right to do so.

  9. solana145_Nathan PosnerAnadolu Agency via Getty Images_biden Nathan Posner/Anadolu Agency via Getty Images

    The Global Necessity of American Democracy

    Javier Solana shows why the political health of the United States has become a matter of global concern.

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