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Michael Spence

Michael Spence

Writing for PS since 2008
175 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. 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.

  2. 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.

  3. Crunch Time for the Power Sector
    spence173_ Joe RaedleGetty Images_power Joe Raedle/Getty Images

    Crunch Time for the Power Sector

    May 17, 2024 Michael Spence argues that developing flexible, stable, and resilient smart grids requires an expanded industrial policy.

  4. 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.

  5. 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.

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  1. brown111_ALAIN JOCARDPOOLAFP via Getty Images_mpox ALAIN JOCARD/POOL/AFP via Getty Images
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    The High Cost of the Netherlands’ Mpox Vaccine Hoarding

    Gordon Brown condemns European populists’ failure to heed the lessons of the COVID-19 pandemic.
  2. charap3_ TATYANA MAKEYEVAAFP via Getty Images)_kursk TATYANA MAKEYEVA/AFP via Getty Images)
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    How to Make the Most of the Kursk Gambit

    Samuel Charap & Charles A. Kupchan think Ukraine and its partners have a big opportunity to start working toward a negotiated end to the war.
  3. leonard104_SurkovDimitriGetty Images_USEUflag SurkovDimitri/Getty Images
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    The US Election Will Overturn Europe’s Strategic Status Quo

    Mark Leonard worries that Europeans are unprepared for whoever will succeed US President Joe Biden.
  4. mazzucato71 GettyImages-2159148172_AW Getty Images
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    The Water-Security Crisis

    Mariana Mazzucato, et al.

    Increasingly severe water shortages represent a human-made crisis that can be resolved through human interventions. The situation demands new thinking about the economics of this critical resource and how to manage it through mission-oriented strategies that span all levels of governance.

     call attention to a global problem that demands far more attention from policymakers at all levels.
  5. reyna1_Martin Schuttpicture alliance via Getty Images_ev green deal Martin Schutt/picture alliance via Getty Images
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    The European Green Deal Is Already Benefiting Consumers

    Agustín Reyna rejects the misguided notion that voters are indifferent to environmental concerns.
  6. bremmer34_Anna MoneymakerGetty Images_harrissouthkorea Anna Moneymaker/Getty Images
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    What Is Kamala Harris’s Foreign Policy?

    Ian Bremmer

    Although Kamala Harris is largely aligned with Joe Biden on many global and strategic issues, her unique worldview promises a distinct form of leadership on the international stage. Not only would US foreign policy shift under a Harris administration; it could change in highly consequential ways.

     considers how the Democratic presidential nominees' views compare to Joe Biden's.
  7. anheier25_JOHN MACDOUGALLAFP via Getty Images_afd JOHN MACDOUGALL/AFP via Getty Images
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    Will the German Center Hold?

    Helmut K. Anheier considers what is driving support for extremist parties in the country’s eastern states.
  8. delong263_MEGAN JELINGERAFP via Getty Images_USindustrysteel Megan Jelinger/AFP via Getty Images
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    America Has No Alternative to Industrial Policy

    J. Bradford DeLong thinks new threats to economic security outweigh the reasons for opposing government-led development.
  9. nye261_Kevin DietschGetty Images_us election Kevin Dietsch/Getty Images
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    US Foreign Policy in 2025

    Joseph S. Nye, Jr. compares the two presidential candidates’ attitudes and positions on major global issues.

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