A succinct description of 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.

Many low-paying jobs have moved from the United States to rapidly growing markets abroad, and higher-paying jobs may soon follow. While Americans benefit from cheaper goods, employment opportunities have diminished. Policymakers should address this trade-off as a first step toward tackling questions of inequality and economic distribution.

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.

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.

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.

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.

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.

Michael Spence discusses the challenges China will face as it transitions from middle-income to developed-country status.

Michael Spence and Sandile Hlatshwayo write that if a relatively open global system is to survive, policymakers will have to ensure that its benefits are distributed equitably between and within countries.

Many low-paying jobs have moved from the United States to rapidly growing markets abroad, and higher-paying jobs may soon follow. While Americans benefit from cheaper goods, employment opportunities have diminished. Policymakers should address this trade-off as a first step toward tackling questions of inequality and economic distribution.