From 600+ conversations with the world’s leading thinkers.
Once you have transparency on impact, why would you tax all companies for the damage caused by some? You would tax the ones who create the damage. I hope we therefore shift to a fairer taxation system that improves the position of governments.
We always think of every crisis as being somehow different and unique to us. That is human myopia. The reality is that the perennial pattern we see is universal and immemorial.
The value of the Rial dropped over 40% in two days. This was a clear currency collapse! It immediately injected hyperinflation into some areas of the Iranian economy as merchants who wanted to import suddenly had to double their local currency prices.
My own twist on that is that the bigger they come, the exponentially harder they fall! Banks are so bent at using expanded balance sheets, using derivatives, pretending that risk is in the net when it's really in the gross, pretending that risk is a linear function of scale when it's an exponential function of scale.
Toyota's reputation for long-term quality is finished. People aren't going to buy Toyotas, period. It doesn't matter which model. What's happened is sufficient to keep people out of the stores.
Always remember – it's best to own 10% of a big number, than all of nothing!
income inequality, as a measure of relative depravation, was consistently associated with violent crimes.
Much jitteriness in this recent crisis has come down to 'flying blind' – where investors and risk managers have been caught somewhat unaware, and do not have the visibility to make decisions with support.
Another important argument for maintaining the status quo is that eliminating a core symbol of the monetary regime could disrupt common social conventions for using money, possibly in unexpected ways.
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.
If you're going to be a city of love and compassion, you're going to have to develop economics infrastructure, capital planning and job creation policies, complementing them with education. For those who feel left out, we have to bring them in, and have that conversation with every company, every worker, and fight for them to be part of the more complicated world.
People don't know what it is that they're negotiating over… If you don't, then it's hard to know if you've gotten a bad deal, a fair deal, or a great deal! That's going to lead us to the negotiation pie, and with the negotiation pie comes the extra value that negotiators create by coming together.