In The Next Convergence, Michael Spence succinctly describes how the recent period of growth in developing countries is leading to a convergence with the advanced countries, or developed world.

Jobs growth was slow in May, renewing pessimism about the U.S. economy.

This Working Paper analyzes trends in the American economy's performance over the past two decades; in particular, it examines changes in employment and value added in U.S. industries.

Michael Spence surveys a variety of economic development models, highlighting the problems of long-term sustainability inherent to each.

Michael Spence writes that myopic U.S. energy policies highlight the need for persistence, longer-term thinking, and bipartisanship in U.S. policymaking.

To achieve sustainable economic growth, Michael Spence says education and values must promote greater awareness of the consequences of individual and collective choices.

Michael Spence wants to rethink the role of the state in addressing the problems of instability and inequality that are endemic to free-market systems.

Experts forecast the five most consequential trends in 2012, following a year in which the global economy struggled amid high unemployment and mounting debt crises.

Michael Spence says too much blame has been heaped upon currencies for the West's economic woes.

Michael Spence says Italy can be saved only if both it and the European Union commit boldly and unconditionally to aggressive action on stabilization and reform.

Michael Spence and Mohamed El-Erian explain how a fundamental review of the way political decisions are made in the United States and Europe can improve policymaking.

Michael Spence presents three major employment challenges facing the global economy as it undergoes massive structural change.

Is globalization to blame for rising unemployment and income inequality in the United States?

Michael Spence writes that structural change and expansion in the tradable sector will be necessary to restore U.S. economic growth.

Michael Spence argues reduced deficits, restored demand, and investments in productivity and competitiveness can help turn the economic tide.

Amid fears of another global recession, investors are focused on U.S. policymakers. Restoring confidence in the world's largest economy will require both national sacrifice and innovation--not more Fed intervention, says CFR's A. Michael Spence.

Michael Spence says recent worldwide market volatility is the result of weak economic fundamentals and disappointing policy responses.

Michael Spence argues that advanced economies must adopt a flexible policy attitude toward long-term structural changes if they are to bounce back from the 2008 crisis.

Michael Spence says the temporary effects of a stimulus package will not fix the lasting effects of structural change.

Jobs growth was slow in May, renewing pessimism about the U.S. economy.

Michael Spence surveys the rocky road to recovery that lies ahead of both advanced and emerging economies.

Michael Spence emphasizes the importance of a fair and open selection process in choosing the IMF's next leader.

Michael Spence describes how Asia's emerging economies will have to incorporate sustainability into their plans for growth.