Design Digitally enabled supply chains initially increased efficiency and dramatically shortened lead times. Capital was mobile; labor, less so. Economic... Michael Spence 9
Change On their own, tariff and trade barriers, if viewed as transitory negotiating tactics, will not significantly change global investment patterns or... Michael Spence 8
Productivity In economies with excess productive capacity, targeted investment can yield a double benefit, generating short-run demand and boosting growth and... Michael Spence 7
Productivity Productivity gains are vital to long-term growth because they typically translate into higher incomes, in turn boosting demand. That process takes... Michael Spence 7
Productivity Properly targeted public investment can do much to boost economic performance, generating aggregate demand quickly, fueling productivity growth by... Michael Spence 9
