Can Finance Save the World?

INTRODUCTION

Finance at the Crossroads

Left, right, backward, forward. . . . The crossroads facing us and the decision we make collectively has never been so important. It’s about finance and how we make use of it, and the direction we take will either save our world or lead us on the road to ruin.

Everyone has a view on what finance means. In my experience, this is usually taken as a reference to Wall Street or the City of London or sometimes to Bank X or the chief executive officer (CEO) of Hedge Fund Y when they happen to make the headlines. Actually, I am referring to a much broader perspective. By finance I mean the financial tools used by the players in the international finance ecosystem (such as banks, investors, pension funds, institutions, ...