Tuesday 29 November 2016
07:45
Nobel Laureate Michael Spence
Escaping the new normal of weak growth
Presented in collaboration with the Institute for New Economic Thinking.
Much of the world, especially the advanced economies, has been mired in a pattern of slow and declining GDP growth in recent years, causing many to wonder whether this is becoming a semi-permanent condition – so called ‘secular stagnation.’ The answer is probably yes, but the question lacks precision. Why is this happening and is there anything we can do about it?
Nobel Economics laureate Michael Spence has written extensively on the various explanations for this ‘new normal’, and will share his views on the characteristics, causes and potential remedies for the current declining growth patterns.
Michael Spence received the Nobel Prize in Economic Sciences in 2001.
He is Professor of Economics at the Stern School at NYU, Professor Emeritus of Management and former Dean (1990-1999) in the Graduate School of Business at Stanford University and Senior Fellow of the Hoover Institution at Stanford.
He served as the Chairman of an Independent Commission on Growth in Developing Countries (2006-2010) and is Chairman of the academic council of the Fung Global Institute.
Spence was awarded the John Kenneth Galbraith Prize for excellence in teaching and the John Bates Clark medal for a “significant contribution to economic thought and knowledge.” From 1984 to 1990, Spence served as the Dean of the Faculty of Arts and Sciences at Harvard.
Michael Spence received the Nobel Prize in Economic Sciences in 2001.
He is Professor of Economics at the Stern School at NYU, Professor Emeritus of Management and former Dean (1990-1999) in the Graduate School of Business at Stanford University and Senior Fellow of the Hoover Institution at Stanford.
He served as the Chairman of an Independent Commission on Growth in Developing Countries (2006-2010) and is Chairman of the academic council of the Fung Global Institute.
Spence was awarded the John Kenneth Galbraith Prize for excellence in teaching and the John Bates Clark medal for a “significant contribution to economic thought and knowledge.” From 1984 to 1990, Spence served as the Dean of the Faculty of Arts and Sciences at Harvard.
