From 600+ conversations with the world’s leading thinkers.
The neo-liberal capitalist mindset has been a huge contributor to loneliness. Since the 1980s, a new form of economics came to the fore which enshrined the pursuit of self-interest over the pursuit of collective good. That generated the mindset we see today- me first, dog-eat-dog, greed is good.
Fundamentally, the real way to tackle bubble-formation is through careful understanding and regulation of how financial products are created and traded, not necessarily regulating the capital structure of the markets themselves.
If you offer no vision for the future, someone else will. Our geopolitics cannot tolerate a vacuum, and if you retreat- whether physically or ideologically- someone else will come up with a plan which may not be complementary for democracy.
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.
The Chinese government has realised that to fuel capitalism, an atheistic, communistic, civil-religion will never propel growth. They realise that their system, frankly, will not support the growth or creativity to create the new technologies and companies that are necessary.
When you have high levels of indebtedness and big deficits… if you simply impose fiscal austerity, you may not be able to achieve your targets because GDP will begin to contract and that will place much greater pressures on the fiscal side.
One thing that really helped us was NOT following the IMF prescription, and hence I think the fact that we insisted on having growth (alongside stability) was something that made for a big change in Brazil.
Historically, Africa has been viewed by many countries as a 'burden,' whereas the BRIC's see it as an enormous opportunity. To put this in context, Europe has twice as much trade with Africa as does even China, so Europe must wake up to the fact that Africa is an important and relevant opportunity, not a burden.
People in power live in fear of their power being taken away, and they fight like bears in a cage that are being backed into a corner. I had no idea how hard those in power would fight me, and it's an extraordinarily difficult thing to be on the receiving end of.
The French Revolution really is this incredible hinge in the story of Western political thought. For a long time, it was just taken for granted that the French Revolution was the starting point of political modernity.
Today, American capital markets are a detriment for competitiveness. The private markets are doing well, but we need a new way forward for competitiveness that works better for companies and the people.
Whether it's in economics, politics, or wider society, there's a debate about capitalism versus socialism; but I don't really think that's what's happening. If you look at the populist undercurrents around the world- it's really about walls & bridges. When there are big changes in the economy – like globalisation or technological change, the simple thing to tell voters is, 'we'll build a wall to protect you against those changes…' what you really need however, is bridges.