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Michael Spence

Michael Spence

Writing for PS since 2008
172 commentaries

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 is Chair of the Advisory Board of the Asia Global Institute and serves on the Academic Committee at Luohan Academy. He is a former chair of the Commission on Growth and Development and a co-author (with Mohamed A. El-Erian, Gordon Brown, and Reid Lidow) of Permacrisis: A Plan to Fix a Fractured World (Simon & Schuster, 2023).

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  1. The Indian Giant Has Arrived
    op_elerian1_ Debarchan ChatterjeeNurPhoto via Getty Images_indiapopulation Debarchan Chatterjee/NurPhoto via Getty Images

    The Indian Giant Has Arrived

    Mar 22, 2024 Mohamed A. El-Erian & Michael Spence consider the risks and challenges associated with the country's rapidly expanding global footprint.

  2. Making Sense of Society
    spence170_Biplov BhuyanHindustan Times via Getty Images_wsupreme court india Biplov Bhuyan/Hindustan Times via Getty Images

    Making Sense of Society

    Feb 29, 2024 Michael Spence considers why a healthy civil society is crucial to good governance and inclusive prosperity.

  3. The Next Phase of Our Inflation Journey
    spence169_SAUL LOEBAFP via Getty Images_powell Saul Loeb/AFP via Getty Images

    The Next Phase of Our Inflation Journey

    Feb 2, 2024 Michael Spence sees flaws in projections that the US Federal Reserve will continue to cut interest rates beyond 2024.

  4. COP28 Can Deliver Progress on Climate Change, but Will It?
    spence168_JEWEL SAMADAFP via Getty Images_cop28 JEWEL SAMAD/AFP via Getty Images

    COP28 Can Deliver Progress on Climate Change, but Will It?

    Dec 5, 2023 Michael Spence highlights areas where the UN summit in Dubai can bring important progress.

  5. Michael Spence on industrial policy, AI, growth models, and more
    Spence_Say-More_Blue-Planet-Studio-via-GettyRF

    Michael Spence on industrial policy, AI, growth models, and more

    Oct 24, 2023 Michael Spence describes the global economy’s new supply conditions, urges governments to tap the potential of artificial intelligence to boost productivity, explains why the relationship between monetary and fiscal policy must change, and more.

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  1. bp india election Photo by SAJJAD HUSSAIN/AFP via Getty Images
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    Will India’s Election Destroy Its Democracy?

    Since taking power in 2014, Prime Minister Narendra Modi and his ruling Bharatiya Janata Party have stoked Hindu nationalism, hollowed out India’s democracy, and overseen an economy that is probably performing far worse than official figures suggest. And yet Modi and the BJP are genuinely popular, making them likely – though not certain – to emerge victorious when the ongoing parliamentary election concludes in June.

  2. benami213_YEHUDA RAIZNERAFP via Getty Images_israelflag Yehuda Raizner/AFP via Getty Images
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    The Unbearable Lightness of Anti-Zionism

    Shlomo Ben-Ami warns that demonizing all Israelis will only make peace less likely – though that may be the point.
  3. alfredsdottir1_Getty Images_pay gap Getty Images
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    How to Close the Gender Wage Gap

    Lilja Dögg Alfreðsdóttir argues that Iceland’s experience lends further support to Nobel laureate economist Claudia Goldin’s research.
  4. brown107_Jeff J Mitchell - Pool Getty Images_covidvaccine Jeff J. Mitchell/Pool/Getty Images
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    Getting the Pandemic Treaty Across the Finish Line

    Gordon Brown

    Just as governments are working tirelessly to conclude negotiations on a new pandemic treaty, a torrent of misinformation and fake news has been unleashed to undermine the process. For the sake of current and future generations, policymakers must resist the propaganda and get the job done.

     hopes negotiations will conclude this month, and pushes back on a last-minute wave of misinformation.
  5. singer231_Michael M. SantiagoGetty Images_college protests Michael M. Santiago/Getty Images
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    When Is Criticism of Israel Anti-Semitic?

    Peter Singer rejects comparisons of the recent US campus protests to the actions of Nazi student groups in the 1930s.
  6. Project Syndicate
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    Trump’s Plans for the Fed Would Revive 1970s-Style Inflation

    Maurice Obstfeld thinks the presumptive GOP nominee’s policies reflect an outdated understanding of the economy.
  7. adebajo5_Getty Images_southafricaelection Sean Gallup/Getty Images
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    Mandela’s Heirs Face Their Biggest Election Test

    Adekeye Adebajo explains why the African National Congress could lose its 30-year monopoly on power.
  8. dalmia1_DIBYANGSHU SARKARAFP via Getty Images_bjp DIBYANGSHU SARKAR/AFP via Getty Images
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    What Explains the BJP’s Rise?

    Gaurav Dalmia ennumerates the reasons why the ruling party has come to dominate the country’s electoral landscape.
  9. zhang66_STRAFP via Getty Images_chinaelectricvehicles STR/AFP via Getty Images
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    Why China Provides Evidence for Optimists and Pessimists Alike

    Zhang Jun explains why rigorous, evidence-based assessments of the economy's performance can diverge sharply.

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