Michael Spence is a Canadian / American economist and recipient of the 2001 Nobel Memorial Prize in Economic Sciences, along with George A. Akerlof and Joseph E. Stiglitz. He is most known for his research on how the job market works. Last year we wrote about his latest book The Next Convergence – The Future of Growth in a Multi-Speed World.
This week the World Economic Forum published an interesting interview with Professor Spence, where he talks about economic growth and why growth in the future will not be correlated with new jobs. The economic growth model will have to change if we are going to keep high employment levels. He also talks about Chinas successful transition and the BRICs at a crossroad.