by Michael Spence · Farrar, Straus and Giroux · ISBN 9780374159757
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In 'The Next Convergence', Michael Spence, winner of the Nobel Prize in Economic Sciences, analyzes the dramatic shift in the prospects of the five billion people who live in developing countries. The book explores how the British Industrial Revolution created enormous economic disparities and how, after World War II, this trend reversed, giving way to a century of accelerated growth in the developing world. Spence examines the unprecedented challenges in governance, international coordination, and ecological sustainability posed by this growth, as well as its implications for advanced countries. A bold analysis of the future of the global economy and the balance between national and international interests.
Andrew Michael Spence is a Canadian-American economist and Nobel laureate.
