This decade, their GDP will increase by about $12 trillion, i.e. they will create another one of themselves! More importantly, the share of consumption in this decade's growth will be bigger and this is where the big opportunity lies.
— Jim O’Neill Economist who coined the term "BRICS" for emerging markets.We're tackling serious subjects like life, death, and existential questions, but in a lighthearted way. This approach makes heavy topics more approachable. There's a cultural instinct to revere those who have passed, as if they know something we don't. Yet, in our show, we flip this idea on its head.
The most corrupting idea about power is that it gives you a set of techniques to enable you to get more of what you want, no questions asked. If we think about power in that way, our soul will get eroded.
There is a certain conventional wisdom about the way that humanity evolved over time. The puzzling element is that much of the gain that we made in the technological realm were converted into more people, rather than into richer people up until very, very recently. World income per capita has increased 14-fold in the past 200 years, whereas over 300,000 years of human existence, it hardly changed.
We have to interact with everyone so no one feels left out or ashamed; these negative emotions can kill curiosity and creativity.
For large corporations, globalization opened up opportunities without the correlate responsibilities which usually travel with that- so things that banks must do at home (in terms of being carefully regulated) they didn't have to do abroad... This took globalization out of balance, into a vicious cycle – and we're now dealing with the consequences of that.
Each time we get a bit of momentum in the economy, each time our exporters make up for the fact that domestic demand is flat.... we get knocked back by the Euro Zone.
DNA is not life. A single chemical molecule has nothing to do with life. DNA is merely a storage system. Nobody would ever say that the "Divine Comedy" is the actual paper and ink on which one of its copies is printed, however many influential scientists have supported this nonsensical viewpoint.
The measurement that we have is not derived from market or economic data. It is derived from the twitterverse- from all these individual users acting as social sensors. When I have a bad day, that has nothing to do with the market! But how I respond to that bad day may be a reflection of a general level of discomfort about how the economy is doing and so forth.
One of the great ironies of a company like Meta, where I worked, is that well over 90% of its users are outside the US, yet well over 90% of the bandwidth among decision-makers is focused on what's happening in America. In the end, that just doesn't make sense.
At most gyms, if you don't show up, nobody cares, and that's the truth. I love gyms, but if you don't show up, nobody will call you, nobody cares, they just take your money and have one less body in the room. We were different, we cared, we wanted you to show up.
The representative agent model (and its descendants) imposed a straightjacket that made it difficult to think clearly about what was going on [in the economy]… To me [Stiglitz], the strangest aspect of modern macroeconomics was that the central banks were using a model in which banks and financial markets played no role.
Everyone has important skills and likely unique skills, but they may not always be as confident in those skills as they should be. We need to challenge the notion that if you don't feel like a superhero, then you must not be the right person for the job. Being underestimated in that way often brings out the best in me. For me, it's not just about overcoming insecurity but leveraging it as a catalyst to ensure that I bring everything I have to the mission.