Michael Spence
Michael Spence
Contributor, The Yuan

Michael Spence, a Nobel laureate in economics, is an emeritus professor at Stanford University and a senior fellow at the Hoover Institution. 

The world will be in hot water if AI insufficiently boosts productivity
Domain knowledge
Many fear AI will render vast numbers of jobs obsolete, but in reality, too few candidates are available to fill the ones that are open. AI must therefore raise productivity to get more out of the existing workforce, argues Nobel laureate in Economics Michael Spence.
Michael Spence  |  Dec 12, 2023
Startup Culture Goes Global
Emerging markets
Digitization, increased connectivity, and falling costs are changing the nature of innovation across the globe and driving the creation of new innovation hubs. How can the public and private sectors work together to build thriving hubs of innovation that generate more inclusive economic growth and better opportunities, particularly in emerging markets?
Michael Spence  |  Apr 12, 2022
Better Models Are Needed to Unblock Supply Chains
Nobel laureate economist Michael Spence believes better models are necessary to predict how supply chains will evolve, including their responses to shocks. He argues these forecasts need to be publicly available so all participants can see them and adapt, and artificial intelligence is the key to the success of this.
Michael Spence  |  Mar 31, 2022
Developing Countries Could Learn from Digital India
India’s mobile-Internet and digital-services ecosystem has grown rapidly over the past five years, owing to the pioneering efforts of large private-sector players. This industry-led growth is somewhat unusual, argues Canadian-American economist and Nobel laureate Michael Spence, but it offers a model that could benefit other developing countries.
Michael Spence  |  Jan 14, 2022