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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
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    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. Matt Gush/Getty Images

    The US Economy’s Trust Deficit

    Michael Spence considers the causes and consequences of Americans’ declining faith in media and government.
  2. halland9_FREDRIK VARFJELLNTBAFP via Getty Images_norwaynaturalgas Fredrik Varfjell/NTB/AFP via Getty Images

    Norway Is a Ukraine War Profiteer

    Håvard Halland & Knut Anton Mork argue that the country should give its windfall gains from gas exports to those on the front lines.
  3. gahnberg1_NurPhotoGettyImages_china_mobile_changing_piles

    Navigating the Risks of Digital Public Infrastructure

    Carl Gahnberg calls for guardrails and policy guidelines to prevent governments from abusing the policy paradigm.
  4. gill10_Nhac NguyenGettyImages_vietnam_street_vendor Nhac Nguyen/Getty Images

    Services Are the New Road to Development

    Indermit Gill & Aaditya Mattoo explain why developing countries need a new paradigm to replace the old manufacturing-led model.
  5. dalay4_GAVRIIL GRIGOROVPOOLAFP via Getty Images_putin Gavril Griforov/POOL/AFP via Getty Images

    Russia Just Lost Its Great-Power Status

    Galip Dalay explains why the fall of Syrian dictator Bashar al-Assad has diminished the Kremlin’s global influence.
  6. moyo30_sesameGetty Images_philanthropy sesame/Getty Images

    Twelve Questions for Philanthropists

    Dambisa Moyo offers practical advice to those who want to contribute effectively to charitable causes.
  7. op_aschecter1_Westend61Getty Images_books Westend61/Getty Images

    PS Commentators’ Best Reads in 2024

    PS editors

    At the end of a year of domestic and international upheaval, Project Syndicate commentators share their favorite books from the past 12 months. Covering a wide array of genres and disciplines, this year’s picks provide fresh perspectives on the defining challenges of our time and how to confront them.

    ask Project Syndicate contributors to select the books that resonated with them the most over the past year.
  8. seid1_Reinhard Dirscherlullstein bild via Getty Images_seagrass Reinhard Dirscherlullstein bild via Getty Images

    The World Needs Ocean-Based Climate Solutions

    Ilana Seid calls for creative mechanisms for financing investment in our planet’s largest carbon sink.
  9. varoufakis122_Spencer PlattGetty Images_wallstreet Spencer Platt/Getty Images

    The West Is Not Dying, but It Is Working on It

    Yanis Varoufakis argues that Western power is alive and well, but the lofty values that once sustained it have been abandoned.

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