Sustainable Patterns of Growth

michael_spenceMichael 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.

Sustainable patterns of growth


  1. As a Canadian it rankles when a prominent Canadian economist working in the U.S.A. is classified as an American. Michael Spence is Canadian! Sorry, but it’s time we make the world realize that Canadians have made many intellectual contributions to the world economic order

  2. Michael Spence biography at the Nobel Foundations website says “I was born during the second World War in Montclair New Jersey. This was more or less an accident (the location that is). My father was based in Ottawa as a member of the War Time Prices and Trades Board, the Canadian version of wartime price controls. That work entailed frequent trips to Washington to coordinate with their American counterparts. New Jersey is more or less half way between the two capitals and my mother was visiting friends. So although I grew up in Canada during and after the war until leaving for college in the United States, I managed to also be an American by birth.

    I have changed the article to say “Canadian / American”.

  3. Jorgen, thanks for the clarification. Canadians rarely get credit or are noted for their contributions, so I was trying to be a bit patriotic. To some extent we are all global citizens and perhaps attribution to and significance of birthplace should be moot. But………..!!!

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