Inequalities could exceed Gilded Age levels by 2040 if we let weak governments and tech monopolies act freely: the richest would live longer than ever while most of the population would live surrounded by diseases and social media. We have survived threats before and we'll do it again. Both the optimist and the pessimist are wrong, but the optimist is happier. Think about the world your grand-children will inherit. Governments should be held accountable and more diverse. Good international cooperation will never substitute good domestic policies. Some issues are best addressed at the domestic level, others at the international level. Trade lifts productivity and accelerates innovation. Global companies require global taxation, otherwise tax optimization occurs and less dollars are collected. Avoid a tax race to the bottom, collect what is owed where it's owed. Digital companies operate worldwide despite not having a proper operational base. Collection revenue for a country is required to invest in the future. Climate change impacts lives, but also the economy. The bedrock for progress is a corruption-free government. When people think that the economy and society no longer work for them, they start disconnecting from it. Corruption siphons resources from education and health, thus limiting the ability of a better life. The yearly cost of bribery is 2% of the global GDP. Corruption is the root cause of many injustices the youth is facing and it knows no border. When bad people use innovation to harm, we must use it to fight back. Innovation is the common good. The brotherhood of men is ready once again to meet the call of history, except that this time women will play a role. Trust is the most precious and in-demand commodity in our society. Plans don't always work out as indented but we must try and try again. Today's anger stems from yesterday's crises where those responsible were not punished.
Christine LagardeLoosing money isn't a problem if you have funding, a business dies when it runs out of cash. Staying the leader means being accepted by the board. Budget cuts are just resource reallocation: spend on what matters most. Everyone is useful to some degree but not everyone is useful to the highest degree. Every team has an opinion but the truth can only be seen by combining every team's opinion. The goal shouldn't be to cut costs but to increase growth and profitability. People accept sacrifices if they agree with its goal and if everyone in affected equally. Be public about your commitments. Change should be about performance, not culture. Don't be subject to a single cultural paradigm, there are many ways to right. Cross functional challenges are good ways to improve. Stagnation is death. Don't quit a tough but big market, improve. Everyone has quality problems, responsiveness is what differentiate competitors. Don't be penny wise but pound foolish, seek obvious low hanging fruits. People will happily collaborate with you if you respect their identity. Diversity is a strength. Cooperation allows everyone involved to benefits from others' expertise. Choose an expertise to be a leader, being good at everything isn't enough. States and companies' priorities aren't the same, the former focuses on jobs while the latter focuses on growth. Because most state representatives aren't industry experts, they shouldn't have the power to steer industries. The French state destroyed more companies and industries than it saved while claiming to be liberal despite being the opposite. It is easier to feel proud of and fight for your team and identity than for a generic entity. What can legitimacy be based on if not experience? Most mistakes are done by choosing the wrong people but most surprises come from unexpected people. You win more money in Private Equity than as an industrial company CEO. If you are looking for recognition, buy yourself a dog. French deficit and debt are due to the state who spends way too much while asking citizens for more money. Politicians know what to do but lack the courage business owners have to act. Don't depend on any state and seek freedom. France won't be fixed with more taxes but less state. For every new responsibility you take, you must delegate another without stealing time from your family and sleep. Have your own faith, your own belief system. The best ways to learn are to work, to read, and to talk with others. The best way to have a successful and fulfilling career is to build your business right after university or after some company experience. Think for yourself and build your own thing.
Carlos Ghosn