From 600+ conversations with the world’s leading thinkers.
We can't only rely on consumers making individual choices. If you switched your energy to someone who told you they are selling you 100% renewable energy, that's great, but it doesn't shift the energy system to renewables. You need to have energy markets that are designed to encourage investment into renewable energy.
All participants in a society have a responsibility to it's social contract.
The rich get richer, and the poor get poorer, and the market doesn't even things out. It takes massive state intervention through public services, health services, social housing and income redistribution to even begin to equalise or reduce inequality.
These policies are, in the long term, very dangerous for productivity, growth, entrepreneurial spirit and wealth generation and will create further issues within the developed economies.
I grew up in Canada and have a lot of friends in Argentina. In the early part of the 20th Century, Argentina was wealthier and had a higher per-capita income than Canada. The country had severe governance issues which impacted economic and social development.
Consider for instance that the bulk of the world's foreign exchange reserves – trillions of dollars – are held by developing economies, and that the US runs a current account and budget deficit of astronomical proportions.
There are various forms of hostage-taking, each with distinct characteristics. Broadly speaking, one can categorise them into political and criminal hostage-takings. Political hostage-taking involves abducting someone to gain a political leverage—this is the first type. The second type is criminal hostage-taking, where the motive is ransom.
The power is amazingly concentrated in Whitehall with very clever technocrats who go into it as their first job. Then they're assigned, aged 24 or 25, things like planning bus routes for Manchester. At the moment, the basic principle in the Treasury is that whatever you do, don't give money to local governments because they will squander it.
The old diplomatic model where only representatives of states have a formal role cannot work in today's world. We need open, democratic platforms that allow everyone to participate – it could be a young activist or a business leader, it could be a scientist or an indigenous leader.
We have to create systems that make people think twice before they behave badly. People need to credibly believe that there will be consequences to their actions if caught in random stings. If you are in a position where you are uniquely able to wield power- politics, police, corporate leadership- you should be randomly subject to attempts to see if you behave badly when offered the opportunity to do so.
Distrust in government is very dangerous – what follows is the ability for authoritarian and totalitarian forms of government to take control, and that doesn't do anybody, any good.
Essentially therefore you have a three-pronged approach. Firstly privatisation, secondly cutting the size of the state and thirdly- collecting existing taxes (rather than imposing any new ones).