Economics

In a bit of a unique proposition, this exchange was created before the ecosystem existed. When you look at the growth and development of WTI, you have Houston which has production, New York which provides financing, the refineries on the Gulf Coast, the traders, marketers, banks and many other pieces of the puzzle which are already there. The DME was a bit of a unique experiment, we created an exchange before all parts of the ecosystem were in place.

The opacity is the difference between profit and loss. If every airline seat that could be sold- were sold at the lowest possible price, the industry would lose billions. If every airline seat that could be sold- were sold at the highest possible price… It would make billions.

Travel is a market that will always do well, in the absence of one of two factors. Firstly… if the global economy goes soft- since travel is a discretionary spend- it will go soft faster than the rest of the economy. Secondly… if there is ever an event that cause travel to be inhibited it has a ripple-out effect.

I used to think that if there was reincarnation, I wanted to come back as the president or the pope or as a .400 baseball hitter. But now I would like to come back as the bond market. You can intimidate everybody…

Political Strategist & Democratic Campaign Consultant, "The Ragin' Cajun

We estimate that between 2010 and 2015, there will be 150million new Chinese entering the middle-class. That's a middle-class which increasingly buys diamonds as a gift of love and as a memento of stature.

The truth is nobody needs a diamond. You don't need a diamond to heat your home, run your car or power your cell-phone. As a business, it's clear to us that there is only one source of value for diamonds- and that is the consumer's desire for the product. 99% of diamond demand is from the jewellery industry, less than 1% goes to industrial uses.

More than just being a luxury item, they are pieces that represent milestone moments- that's why they're important. People also reflect on whether diamonds are a hard asset class. They are the hardest of all assets, being the hardest asset known to man!

The easiest piece of advice to give, but the hardest to follow- is to not let yourself get swept up in the next bubble. You could have said that about tech stocks in the 90's, housing prices around the world in the early 2000's… but people always got swept up in them. The history of financial bubbles does not give cause for optimism.

Prominent Economist & Former Vice Chair of Federal Reserve Board

If you mean magnitude of crisis in the literal sense of comparing it against the one which occurred? I think it's very, very unlikely. This was the hundred-year flood. If you stopped before that phrase and just asked whether we would face another crisis in the financial markets within our generation? Then I'd bet the ranch on that. Markets have an incredible capacity to forget.

Prominent Economist & Former Vice Chair of Federal Reserve Board

The government turned a profit on the financial market aspects of TARP- a profit! One of the many sad legacies about this episode is the bad name given to fiscal stimulus and TARP. You can't even use those terms in the United States any more without thinking of a euphemism. People still think these measures cost American taxpayers a huge amount of money and did no good. The facts are exactly the reverse.

Prominent Economist & Former Vice Chair of Federal Reserve Board

There's a disease shared between individuals who consider themselves the smartest people in the room that makes them think they'll be the ones that get out just in time, while others are left holding the bag. That was true for a few people, but in general… someone will always be left holding the bag.

Prominent Economist & Former Vice Chair of Federal Reserve Board

This is the equivalent of asking how close we came to falling through a big crack in the Earth when it didn't actually happen. However… going on eyewitness accounts from very informed and non-hysterical observers such as Fed Chairman Ben Bernanke and others, it looks like we were quite close. When people start talking seriously about some of the biggest banks in the world folding? …That says you're pretty close to a meltdown.

Prominent Economist & Former Vice Chair of Federal Reserve Board

150 years ago, Aluminium was the rarest metal we knew of on the surface of planet Earth. Through technology we learned how to extract it from the bauxite in the Earth's crust, and discovered it was the most abundant metal. We went from Napoleon serving Kings and Queens on the finest Aluminium plate-ware to much more money made on Aluminium within 20 years.

Our mission is to expand the economic sphere of influence of humanity off the surface of the planet and into the solar system. Currently we have a vibrant economy in space that goes out to the geostationary belt- where the communication satellites are- and it stops.

Public health goes everywhere. Winslow defined it as 'the science and art of preventing disease, prolonging life, and promoting health through the organised efforts of society'. I think that's a good start, but we have to see the culture and ecosystem of public health in the context of the community. Not only is happiness important to public health, but so is GDP and the environment. It's an immensely broad subject.

UK's Chief Medical Officer & Leading Public Health Advocate

Despite huge and on-going technological advances in electronic transactions technologies, it [paper currency] has remained surprisingly durable, even if its major uses seem to be buried in the world underground and illegal economy.

Economist & Harvard Professor; Former IMF Chief Economist