Imperfect Knowledge

“You are now leaving the world as you know it.”

What happens when professionals lose touch with the people they’re supposed to serve?

Five years after the collapse of the U.S. investment bank Lehman Brothers, the world has still not addressed the fundamental cause of the subsequent financial crisis – an excess of debt. And that is why economic recovery has progressed much more slowly than anyone expected (in some countries, it has not come at all).

Paper revised for the Institute’s Plenary Conference in Berlin