Michael Spence

Senior Fellow
Awards and Honors:
American Academy of Arts and Sciences
Econometric Society (elected fellow)
Biography: 

Michael Spence is a senior fellow at the Hoover Institution, a professor of economics at the Stern School at New York University, and the Philip H. Knight Professor Emeritus of Management in the Graduate School of Business at Stanford University.

Spence’s latest publication is The Next Convergence: The Future of Economic Growth in a Multispeed World (2011).

He served as the chairman of the independent Commission on Growth and Development (2006–10).

He was awarded the Nobel Memorial Prize in Economic Sciences in 2001 and the John Bates Clark Medal from the American Economic Association in 1981. He was awarded the David A. Wells Prize for the outstanding doctoral dissertation at Harvard University and the John Kenneth Galbraith Prize for excellence in teaching.

He served as the Philip H. Knight Professor and dean of the Stanford Business School (1990–99). As dean, he oversaw the finances, organization, and educational policies of the school. He taught at Stanford as an associate professor of economics from 1973 to 1975.

He served as a professor of economics and business administration at Harvard University (1975–90). In 1983, he was named chairman of the Economics Department and the George Gund Professor of Economics and Business Administration. Spence also served as the dean of the Faculty of Arts and Sciences at Harvard (1984–90), overseeing Harvard College, the Graduate School of Arts and Sciences, and the Division of Continuing Education.

From 1977 to 1979, he was a member of the Economics Advisory Panel of the National Science Foundation and in 1979 served as a member of the Sloan Foundation Economics Advisory Committee. He has served as a member of the editorial boards of the American Economics Review, Bell Journal of Economics, and Journal of Economic Theory.

Spence is a member of the boards of directors for General Mills and a number of private companies. He was chairman of the National Research Council Board on Science, Technology and Economic Policy (1991–97).

He is a member of the American Economic Association and a fellow of the American Academy of Arts and Sciences and the Econometric Society.

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Interviews

Michael Spence: Economic Growth As A Tool For Fighting Poverty

interview with Michael Spencevia Bloomberg
Tuesday, October 29, 2019

Hoover Institution fellow Michael Spence discusses whether a country can expand its economy and lift its citizens out of poverty.

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Which Wealth Tax?

by Michael Spencevia Project Syndicate
Monday, October 28, 2019

Steadily rising income and wealth inequality, along with declining social mobility, is contributing to political polarization. Fortunately, If there is growing demand for some type of tax-policy response to the problem, we have ways to determine which measures would be most effective, depending on the specific objective.

Interviews

Michael Spence Discusses Inequality And Growth

interview with Michael Spencevia Bloomberg
Friday, October 25, 2019

Hoover Institution Michael Spence discusses information flows, inequality, and growth

Interviews

Nobel Laureate Michael Spence: Post-Brexit U.K. Economy Isn't All Doom

interview with Michael Spencevia Bloomberg
Tuesday, October 15, 2019

Hoover Institution fellow Michael Spence talks about the outlook for the post-Brexit U.K. economy.

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Brave New Automated World

by Michael Spencevia Hoover Digest
Wednesday, October 9, 2019

The digital revolution holds great promise for human well-being—if that revolution can be managed.

Hong Kong Umbrella Revolution Collection, Box 2, Hoover Institution Archives
Featured

Hong Kong In The Balance

by Michael Spencevia Project Syndicate
Monday, September 30, 2019

After months of large-scale protests in Hong Kong, the city's future as a bridge between mainland China and the outside world is in serious jeopardy. Fortunately, all sides share an interest in pursuing more inclusive growth within the "one country, two systems" framework that has been critical to Hong Kong's success.

Economic growth with Nobel laureate Michael Spence
Interviews

Michael Spence On Central Banks' Policies, European Economies

interview with Michael Spencevia Bloomberg
Tuesday, September 24, 2019

Hoover Institution fellow Michael Spence talks about the global central banks' policies as well as the Japanese and European economies.

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Michael Spence Says Global Recession A 'Distinct Possibility'

featuring Michael Spencevia Bloomberg
Tuesday, September 24, 2019

Hoover Institution fellow Michael Spence talks about the Brexit negotiations and the implications for the British economy, as well as the prospects for the global economy.

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Michael Spence Agrees With Dudley, Says Fed Can Handle Repo Market

interview with Michael Spencevia Bloomberg
Friday, September 20, 2019

Hoover Institution fellow Michael Spence discusses Federal Reserve monetary policy.

Interviews

Michael Spence Says Oil Shock Still Possible, Merkel Missed Opportunity To Help EU

interview with Michael Spencevia Bloomberg
Friday, September 20, 2019

Hoover Institution fellow Michael Spence talks about the possibility of an oil shock as well as German Chancellor Angela Merkel's decision to stick to zero deficit spending.

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