Michael Spence's Quotes
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 SpenceDigitally enabled supply chains initially increased efficiency and dramatically shortened lead times. Capital was mobile; labor, less so. Economic activity (production, research, design, etc.) moved to any accessible country or region that had relatively inexpensive labor and human capital.
Michael Spence