# Prof. Michael Spence on the disappearing middle class

1 Faculty News July 8, 2012 ![The New York Times Logo](/sites/default/files/styles/246w/public/assets/images/uat_027320.jpg?itok=W8xBr66g)>

Excerpt from [The New York Times Campaign Stops blog](http://campaignstops.blogs.nytimes.com/2012/07/08/the-future-of-joblessness/) -- "[Michael Spence](http://www.stern.nyu.edu/faculty/bio/a-michael-spence), a professor at N.Y.U.’s Stern School of Business, and David Autor, an economist at M.I.T., have argued that this 'hollowing out' process is a result of twin upheavals: globalization and the hyper-acceleration of technological progress."

[Read more](http://campaignstops.blogs.nytimes.com/2012/07/08/the-future-of-joblessness/)