# An op-ed by Prof. Michael Spence on government paralysis in the face of economic challenges

1 Faculty News August 15, 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-are-governments-paralyzed-by-michael-spence-and-david-brady) -- "The negative effects of these problems are now interacting, feeding back on themselves, and spreading to the rest of the global economy. And yet, despite a palpable sense of concern that something is very wrong, the prognosis for significant change is bleak – and deteriorating. What accounts for the apparent lack of effective policy action across a broad range of countries and regions?"

[Read more](http://www.project-syndicate.org/commentary/why-are-governments-paralyzed-by-michael-spence-and-david-brady)

Additional coverage appeared in [Council on Foreign Relations blog](http://blogs.cfr.org/renewing-america/2012/08/16/why-are-governments-paralyzed/).