From 600+ conversations with the world’s leading thinkers.
We're working at the nexus of two pretty powerful forces which, when combined, can have a profound impact on reducing global poverty. First, agriculture.... You've got around 2.6 billion people in the world who survive on less than $2 per day, 75% of them are rural and agriculture is their primary economic activity.
Since 1998, the effective return to hedge-fund clients has only been 2.1% a year... never in the history of Finance was so much paid by so many for so little.
The last quarter century of globalisation has utterly transformed how our markets and nations do business. With that in mind, we have to appreciate that our economies not only provide profound benefits and wealth-creation opportunities, but also hold very real (and untended) existential threats to the livelihoods of billions of citizens.
This is transforming the whole of our economy and we are seeing more companies making decisions across those dimensions of risk-return-impact and being judged on the basis of the profit and impact they create. It really turns our economies away from risk-return (where they create profit without counting the huge damage they cause) to risk-return-impact.
We are seeing the emergence, development and evolution of entire monetary systems live, unfolding before our eyes. You have Bitcoin and Ethereum and can imagine them as international monetary systems that bring-together local ecosystems. We used to have gold as a key reserve asset, and now it's the US dollar.
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.
When you empower people economically, your social programmes go further. The idea that there is a stark separation between a social program that's sustainable and economic program that's a luxury doesn't fit the reality. When you join economic empowerment to social protection, you get double the benefit.
Always remember – it's best to own 10% of a big number, than all of nothing!
The net result would certainly be worth the effort as now, more than ever, stakeholders in a fragile global economy from central banks to individual consumers need to know that what they are seeing is, in fact, the truth... the whole truth... and nothing but the truth.
We believed, and took on board the promise of growth, that it would even things up again, that it would clean up after itself, and that actually was a panacea to many of our economic ills. Yet, all the evidence has shown us that growth does not even things up- some of the richest countries in the world are becoming immensely unequal and we have seen that growth certainly doesn't clean-up after itself.
Free trade, openness, security, and a stable government framework have been the key factors behind the emergence of Dubai as an international business hub.
We are living through a profound era where speculative failure is simply not an option, and is fought tooth and nail by the government. This is a trap. Here I am the fool looking to fail frequently.