# An op-ed by Nobel Laureate Prof. Michael Spence on why some economies stop growing

1 Faculty News May 23, 2012 ![Project Syndicate logo](/sites/default/files/styles/246w/public/assets/images/con_030500.jpg?itok=ONV7lJ6H)>

Excerpt from [Project Syndicate](http://www.project-syndicate.org/commentary/why-do-economies-stop-growing) -- "If invested in infrastructure, education, and external financial assets, natural-resource revenues can accelerate growth. But, too often, such revenues distort economic incentives, which come to favor rent-seeking and interfere with the diversification that is essential for growth."

[Read more](http://www.project-syndicate.org/commentary/why-do-economies-stop-growing)