2012
Tradable Prosperity PDF Print E-mail
MICHAEL SPENCE | OP-EDS - 2012
Tuesday, 17 July 2012 12:13

Michael Spence op-ed Project SyndicateThe global economy is experiencing a major growth challenge. Many advanced countries are attempting to revive sustainable growth in the face of a decelerating global economy. But the challenges across countries are not the same. In particular, the tradable and non-tradable parts of a range of economies differ in important ways.

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Clarity About Austerity PDF Print E-mail
MICHAEL SPENCE | OP-EDS - 2012
Tuesday, 19 June 2012 14:21

I have just had the privilege of speaking at the main annual conference of Germany’s Economic Council, the economic and business arm of the Christian Democratic Union, the current governing party. Chancellor Angela Merkel and Finance Minister Wolfgang Schäuble were among the other speakers. It was an interesting event – and, more important, an encouraging one.

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Why Do Economies Stop Growing? PDF Print E-mail
MICHAEL SPENCE | OP-EDS - 2012
Wednesday, 23 May 2012 14:29

Over the years, advanced and developing countries have experimented, sometimes deliberately and frequently inadvertently, with a variety of approaches to growth. Unfortunately, many of these strategies have turned out to have built-in limitations or decelerators – what one might call elements of unsustainability. And avoiding serious damage and difficult recoveries requires us to get a lot better at recognizing these self-limiting growth patterns early on.

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Reinventing the Sino-American Relationship E-mail
MICHAEL SPENCE | OP-EDS - 2012
Monday, 23 April 2012 12:34

China and the United States are in the grip of major structural changes that both dread will end the Halcyon era when China produced low-cost goods and the US bought them. In particular, many fear that if these changes lead to direct competition between the two countries, only one side can win. 

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The Energy Deficit E-mail
MICHAEL SPENCE | OP-EDS - 2012
Tuesday, 20 March 2012 12:22

I have been surprised by the recent coverage in the American press of gasoline prices and politics. Political pundits agree that presidential approval ratings are highly correlated with gas prices: when prices go up, a president’s poll ratings go down. But, in view of America’s long history of neglect of energy security and resilience, the notion that Barack Obama’s administration is responsible for rising gas prices makes little sense. 

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