The costs and risks on both sides of the open/wait decision are potentially high and trading them off involves difficult value judgments. Experts on the scientific, medical and economic sides are needed to provide informed predictions of the consequences of various policy choices. Opening the economy with certain virus containment strategies in place will support a more rapid and effective restoration of economic activity. Please join us as Professor Michael Spence explores what this framework could entail, as well as the effect of the pandemic on global economic structures and the rapidly accelerating global digital transformation.
About the speaker: Andrew Michael Spence is a Nobel laureate, Professor of Economics at the NYU Stern School of Business, and Co-Chair of INET’s Commission on Global Economic Transformation. He is also Senior Fellow at the Hoover Institution and served as Chairman of the independent Commission on Growth and Development, an international body that from 2006-2010 analyzed opportunities for global economic growth. He is the author of the book “The Next Convergence: The Future of Economic Growth in a Multispeed World”.