From 600+ conversations with the world’s leading thinkers.
causality runs from the latter to the former: in more unequal societies, the return to committing a crime increases, since there is more wealth to be taken away at each crime
Thanks to monetary policy, business cycles are far less volatile today than they were in the 19th century, when we had huge swings. But if cryptocurrency takes over the way its proponents would like, we could return to the ups and downs of the pre-monetary policy era.
The only source of value in our business is the consumer's desire for the product. That desire is built on emotions ascribed to diamonds.
Studies estimate that climate change directly contributes to the death of over 400,000 people a year, and costs the world economy over $1.2 trillion per-annum. If we factor in man-made environmental pollution alongside climate-change, over 4.5 million people each year die as a direct result of man's impact on this planet.
We measure these flows entirely based on data filed by governments at the World Bank and the IMF. We apply two very established economic models. One is the World Bank's residual method, and the other is the IMF Direction of Trade statistical approach. These models have been used by economists for decades but we were the first group to apply these models to all developing countries.
One of the common myths about setting up business in the UAE is that funding is challenging to obtain in the country. This couldn't be further from the truth. With UAE's pro-investment laws and a robust financing sector, new businesses find it very easy to secure funds through various channels.
Because Peter Paul Rubens signed his name to his paintings (several of which were finished by his artisans), they commanded a higher price. Today, the famous contemporary glass artist, Dale Chihuly puts his name on every work of glass although he never makes any of it.
While many investors were caught in this crisis, the leading economists in the world saw it coming.
I often pose a critical question to businesses: if the economy began transitioning towards sustainability, would this be a boon or a bane for your business? If it's perceived as a threat, your paramount priority should be to modify your business model until this transition becomes an opportunity.
We have made money, capital, materialism and consumption into our God, it's a disease – you could call it affluenza. It is perhaps because of this context that humanity has lost its way, and the consideration of human rights has been subordinated to the interests of a handful of powerful people who sit at the top of the pyramid.
Looking at the bond market to provide you protection from inflation is a fools game. If you are really worried about inflation- you have to buy stocks.
The miracle of capitalism is that if you have a central government trying to solve something, it will come up with one averagely optimal solution for everybody. And capitalism will come up with 10 different solutions to the same problem.