From 600+ conversations with the world’s leading thinkers.
Many governments, faced with a popular revolt, have chosen to martyr wealth without realising that it is the source of entrepreneurship, innovation and philanthropy in their economies.
Our goal is to pinpoint where we can create the most value for humanity per dollar, rupee, or shilling spent. This isn't usually something that makes you wealthy, but it does a significant amount of good in three ways: it helps people survive and stay healthy rather than falling ill or dying; it alleviates poverty; and it improves the environment.
How would one expect society to develop 'actualisation' and 'esteem' driving characteristics (economic growth and spending) when the basic 'physiological' and 'safety' needs (food security, employment, health, property) are not met.
It certainly plays a much bigger role than was ever intended to. A number of financial institutions and contracts rely on LIBOR as the benchmark by which other rates are set. I don't think it was ever intended that LIBOR would play such a central role between so many institutions and contracts.
There is a problem with business leaders and the economics profession where we have celebrated the gains from neoliberal policies whilst only paying lip-service to compensating those left-behind.
Today, we have the worst of the 1970s, with multiple different types of negative supply shocks and not just one.
We clearly have more risk around the sovereign debt of mature and developed economies. Certainly that's an issue in the US- both at the federal and state level. We're seeing that right now in very dramatic fashion in the EU also. You also see the knock-on effects of aggressive monetary policy and weak fiscal policy driving activity in precious metals, commodities and also even in equities!
The 'black swan' doesn't appear very often in coin-toss land but in agent based complex systems land, it appears quite a lot.
For businesses to survive, let alone brands, you need a secure and stable base. You need secure economic and social conditions to reduce risk.
...the most serious financial crisis we've seen at least since the 1930s, if not ever.
The cost of inaction far exceeds the cost of action. Every day we delay comprehensive HIV programs, we're not just counting dollars - we're counting lives.
What's remarkable about Israel's economy is that in the last few years we have situations which, in any other country, would have been totally disruptive. In the last couple of months alone we have seen literally hundreds of missiles and mortars fired at us from one of our neighbours... The incredible thing is that none of these threats have a measurable impact on our economy!