Michael Spence Quotes


Although everyone does benefit from lower-priced goods and services, people also care greatly about the chance to be productively employed and the quality of their work. Declining employment opportunities feel real and immediate; the rise in real incomes brought by lower prices does not.


Citations

Spence, Michael. "The Impact of Globalization on Income and Employment: The Downside of Integrating Markets." Foreign Affairs, vol. 90, no. 4, 2011.

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Michael Spence
Michael Spence
  • Born: November 7, 1943
  • Nationality: American
  • Profession: Economist

Andrew Michael Spence is a Canadian-American economist and Nobel laureate.