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Michael Spence

Michael Spence

Writing for PS since 2008
178 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 US Economy’s Trust Deficit
    Matt Gush/Getty Images

    The US Economy’s Trust Deficit

    Dec 20, 2024 Michael Spence considers the causes and consequences of Americans’ declining faith in media and government.

  2. China Can Beat Back Deflation
    spence178_NurPhotoGettyImages_china_deflation_supermarket1 NurPhoto/Getty Images

    China Can Beat Back Deflation

    Nov 6, 2024 Michael Spence predicts that, with the right policies, the economy’s growth momentum can be restored within 2-3 years.

  3. The High Cost of Excluding Chinese Technology
    spence176_VCGVCG via Getty Images_chinaelectricvehicles VCG/VCG via Getty Images

    The High Cost of Excluding Chinese Technology

    Oct 2, 2024 Michael Spence warns that both the global economy and the sustainability agenda could be dealt a devastating blow.

  4. Europe Needs a New Economic Vision
    spence175_eu unnivation iStock / Getty Images Plus/greenbutterfly

    Europe Needs a New Economic Vision

    Aug 21, 2024 Michael Spence is confident that the European Union can make up ground lost to the US and China – if it knows what it wants.

  5. The Economics of Philanthropy
    spence174_ David RyderGetty Images_gates foundation David Ryder/Getty Images

    The Economics of Philanthropy

    Jul 4, 2024 Michael Spence proposes mechanisms for inducing the wealthy to support public goods at a time of rising inequality.

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  1. ahzhang19_Jaap ArriensNurPhoto via Getty Images_tiktok Jaap Arriens/NurPhoto via Getty Images

    The TikTok Boomerang

    Angela Huyue Zhang

    By banning TikTok, US authorities have sent American users of the app flocking to Chinese platforms with even fewer safeguards on data security or algorithmic manipulation. Though these, too, might be banned, others will replace them, leading America to construct, one prohibition at a time, its own "Great Firewall."

    thinks the US government's ban on the app has left it in an untenable position.
  2. delaney1_Jose JimenezGettyImages_bahamas_dorian Jose Jimenez/Getty Images

    Turning the Financial Tide for Small Island States

    Maya Delaney & Aminath Shauna tout the potential of green and blue bonds to protect critical ecosystems and build economic resilience.
  3. brown116_Timur MatahariGettyImages_indonesia_free_school_meals Timur Matahari/Getty Images

    School Meals Provide Food for Thought – and Fuel for Development

    Gordon Brown & Kevin Watkins tout universal nutrition programs in lower-income countries to mitigate a lost decade for poor children.
  4. karl3_Apu GomesGetty Images_LAfires Apu Gomes/Getty Images

    A House Gutted by Fire

    Terry Lynn Karl blames the inferno now consuming Los Angeles County squarely on greenhouse-gas emissions.
  5. op_janeway17_Natalya KosarevichGetty Images_moneyhandslightbulb Natalya Kosarevich/Getty Images

    False Economies

    William H. Janeway highlights the high cost of the single-minded focus on efficiency that has come to dominate the discipline.
  6. bq trump institutions Photo by Brendan McDermid-Pool/Getty Images

    Can US Institutions Withstand Trump 2.0?

    While some observers doubt that US President-elect Donald Trump poses a grave threat to US democracy, others are bracing themselves for the destruction of the country’s constitutional order. With Trump’s inauguration just around the corner, we asked PS commentators how vulnerable US institutions really are.

  7. wagner31_Westend61Getty Images_climatependulum Westend61/Getty Images

    The Climate Policy Pendulum

    Gernot Wagner notes that green technologies retain their many advantages, regardless of national political developments.
  8. strain35_Christina HouseGettyImages_commencement_ceremony Christina House/Getty Images

    Could High-Skill Immigration Increase Under Trump?

    Michael R. Strain argues that the recent kerfuffle over foreign workers underscores the president-elect’s pragmatic instincts.
  9. posner38_Viktor SidorovGettyImages_un_flag Viktor Sidorov/Getty Images

    What Happened to International Law?

    Eric Posner sees the web of treaties, conventions, and institutions as another victim of the anti-globalization backlash.

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