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Nobel Prize-Winning Economist Bashes Status Quo Thinking

Not everyone in the establishment is out to lunch.  The Nobel-winning Michael Spence at my old CFR stomping ground has been thinking about our failures of governance and the costs of backward looking policies.  In words that could have appeared on this blog, he’s written today that the bewildering pace of economic change taking place in the world demands more changes and faster changes in the advanced economies than people have been willing to contemplate.

The title of his piece?  Adapt or Die.

Those are words we all need to keep in mind.

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