From 600+ conversations with the world’s leading thinkers.
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.
In the West, politicians will say anything and not care about it- they'll be out of office by the time they would be held to account. The Chinese tend to under-promise and over-perform, they don't want to lose face.
I think that inequality within societies and between regions has become a key cause for conflict, exacerbated by rapid information dissemination, as people are now more aware of inequalities.
The average American worker was subject to danger every bit as great as soldiers in war.
Our world is the projection of our collective insanity, and run by world-leaders who are professional thugs, gangsters and mobsters.
All participants in a society have a responsibility to it's social contract.
Corruption is a collective mindset, anchored around a cultural mindset that shifts to become tolerant to corruption, and increased levels of corruption. When we talk about corruption it's easy to think of it as governments, but for corruption to work- and to be effective- it has to contaminate all the bodies of society.
The first thing we need is activism. Corruption is a system, and to fight it we must first change the mindset of the population, and that can only happen through activism, through being present in politics, through being elected. You have to be in the media, you have to have a voice, you have to be able to convey your message strongly.
When you take a step back and view this from a 30,000-foot perspective, I try to highlight the role of civilians in conflict. Officials, especially those in power controlling militaries or governments, often want to shape the narrative, to spin you to their story. But when you speak to civilians in the midst of war, they share more about the personal impact on their lives, and I think my audience and readers can connect more deeply with those voices.
Unfair taxation cripples economic development in a manner not dissimilar to third-world economic corruption.
It's not that capitalism is failing, but rather that the organisation of capitalism is succumbing to wealth and power. People with extraordinary power and wealth will organise and enforce markets in such a way that it benefits their wealth and adds to their power- it becomes a self-fulfilling prophecy- a vicious cycle of more wealth and power.
The danger is that when we jump too quickly to the solution, not only is the floor littered with the inventions that never worked, but we risk designing solutions that never fit the problem.