From 600+ conversations with the world’s leading thinkers.
Not only are incomes being lost — a sense of community, a sense of pride, a sense of belonging has also been lost. Those things clearly matter for human wellbeing. We’re just not very good at measuring them.
It is the sinusoidal movement of economies between stage 1 and stage 2 which contributes to growth, while the participants in stage 3 very rarely contribute to any real economic growth as their entire theatre is virtual.
We have lived through an era where success has been defined only in financial terms- leaving out any consideration of the impact of business on communities or the world. Just because accounting standards don't require you to measure certain things, doesn't mean those things aren't real.
While many investors were caught in this crisis, the leading economists in the world saw it coming.
If all the money that's ever been invested in hedge funds had been put in treasury bills instead, the results would have been twice as good.
The absolute biggest risk out there I can identify would be if something went really wrong with China as it is so important to the BRIC and global economic future. Luckily, I think it is a small risk.
You must tell yourself the truth about money if you're going to give it away well. If you can't live well with $999 million, there's something clearly wrong with you. Money gets inside us; it creates our perceptions and changes the way we operate. It changes the people among whom we are, and who we are. When we're not in touch with that reality, it can change us in heinous ways.
As you move forward... there is the potential that the government can make a wrong-move but more importantly, now that the infrastructure has been built.. you have to question how long that growth model can last... Once you've built your motorways and railways, you're not going to build anymore!
If we consider the United States, where potentially 40 million people could discover through brain imaging or blood tests that they have amyloid in their brains, the question arises: how can healthcare systems afford to provide a $100,000 per year therapy to so many people? It's simply not feasible.
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.
When I have a bad day, that has nothing to do with the market! But how I respond to that bad day may be a reflection of a general level of discomfort about how the economy is doing and so forth. It's an out-of-bounds signal. In that sense, it's pretty unique!
I believe that working towards women's economic empowerment at the global level is the single most important battle we will fight in our lifetime, and that's because harnessing the incredible talents and potential of women is not only the right thing to do – it will also create stronger economies and a fairer society for all.