# Prof. Michael Spence discusses the impact of underinvestment on economic growth

1 Faculty News October 7, 2014>

Excerpt from [Bloomberg](http://www.bloomberg.com/video/under-investment-is-hampering-growth-spence-FutL6EW9R62Y4nq~rIl_AQ.html) -- "The best thing about the American economy is that it is structurally flexible, so the private sector is actually adjusting pretty fast. But we need very heavy investment infrastructure, education, skills, and other things to try to bring the lower half of distribution up."

[Watch the video](http://www.bloomberg.com/video/under-investment-is-hampering-growth-spence-FutL6EW9R62Y4nq~rIl_AQ.html)

Additional coverage appeared on [Bloomberg Businessweek](http://www.businessweek.com/videos/2014-10-07/under-investment-is-hampering-growth-spence).