Best quotes by Michael Spence on Time

Checkout quotes by Michael Spence on Time

• ‟ I picked economics at the end of my undergraduate time because it seemed to be a really nice combination of theory, including mathematical theory on one hand, and things that are quite practical that you can touch and see and feel. So I picked it, and I consciously thought of it as an experiment to see if I liked it. And it worked.

  - Michael Spence
  

• ‟ My father once said about being a parent that it is the only thing you do that requires a very long period of learning, and at about the time that you are becoming competent, you don't need the skills anymore. Notwithstanding this modest assessment of their parenting skills, they were wonderful parents.

  - Michael Spence
  

• ‟ The combination of a workable basic formula and the capacity to improve over time is what one hopes for in any aspect of society: business, government, the non-profit sector.

  - Michael Spence
  

• ‟ I was not thinking about infinite multipliers when I was 10. But I did have a father who was a Ph.D. in commerce and finance and an intellectual man. And so I had a feeling, probably about the time I went to college, that I would try to be a scholar and teacher, but I didn't know which field.

  - Michael Spence
  

• ‟ During my Ph.D. program, I became interested in the informational structure of markets that turned into the work on signaling, which was the part of my early work that was recognized for the Nobel Prize, but it was not really a subject at the time.

  - Michael Spence
  

• ‟ My mother was strong-willed, demanding, and very supportive all at the same time.

  - Michael Spence
  

• ‟ Productivity gains are vital to long-term growth because they typically translate into higher incomes, in turn boosting demand. That process takes time, of course - especially if, say, the initial recipients of increased income already have a high savings rate.

  - Michael Spence
  

• ‟ Reforms aimed at increasing an economy's flexibility are always hard - and even more so at a time of weak growth - because they require eliminating protections for vested interests in the short term for the sake of greater long-term prosperity.

  - Michael Spence