An interview with the Nobel Prize-winning economist Michael Spence.
Is globalization to blame for rising unemployment and income inequality in the United States? Richard Katz and Robert Lawrence argue that other factors are at fault. Perhaps, says Michael Spence -- but the overarching effects of globalization cannot be denied.
Jobs growth was slow in May, renewing pessimism about the U.S. economy. Spence, a Nobel Prize-winning economist writes that economic growth and employment in the United States have started to diverge, increasing income inequality and reducing jobs for less-educated workers.