Design Digitally enabled supply chains initially increased efficiency and dramatically shortened lead times. Capital was mobile; labor, less so. Economic... Michael Spence 15
Change On their own, tariff and trade barriers, if viewed as transitory negotiating tactics, will not significantly change global investment patterns or... Michael Spence 11
Productivity In economies with excess productive capacity, targeted investment can yield a double benefit, generating short-run demand and boosting growth and... Michael Spence 8
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 9
Productivity Properly targeted public investment can do much to boost economic performance, generating aggregate demand quickly, fueling productivity growth by... Michael Spence 15
