MICHAEL SPENCE served as the Chairman of the Independent Commission on Growth in Developing Countries (2006-2010 – the life of the commission), Philip H Knight Professor Emeritus of Management and former Dean of the Graduate School of Business at Stanford University, Professor of Economics in the Stern School of Business at New York University and a Senior Fellow of the Hoover Institution at Stanford.
Spence received the Nobel Prize in Economic Sciences, in 2001, and the John Bates Clark Medal in 1982.
He is the author, “The Next Convergence: The Future of Economic Growth in a Multispeed World,” Ferrar, Straus and Giroux, May 2011, and “Globalization and Unemployment: The Downside of Integrating Markets,”Foreign Affairs, July/August 2011 Spence is an advisor to the governments of China and India on matters relating to growth, development and structural change.
He is a senior advisor at Oak Hill Investment Management, a consultant to PIMCO, and serves on the board of the Stanford Management Company. He serves on the boards of a number of public and private companies.
Let me remind you that credit is the lifeblood of business, the lifeblood of prices and jobs.
Good health is essential to social and economical development and it empowers all of the public sectors.
World Health Organization
Innovation is the specific instrument of entrepreneurship. The act that endows resources with a new capacity to create wealth.
Talent is a source from which water flows constantly renewed. But this source loses its value unless it is properly used.