They Said It…

“The Achilles’ Heel of globalization is that we’ve been driven to over-optimization resulting in maximum vulnerability.”
Niall Ferguson, attempting to explain the underlying cause of the current financial contagion.

“If you board a Boeing 777 from Beijing to JFK airport, you’d have a hard time picking which one was the emerging market.”
Jeffrey Immelt, illustrating the shift in wealth and prosperity over the past 50 years.

“A choice of Obama would somehow signify the finest that America has to offer.” ÿ
Anand Mahindra commenting on the current American Presidential campaign

“Creative capitalism – it is not just about dollars, it is about the power of innovation. ÿCapitalism has done a great job, but the foundation takes to areas where the mechanism has fallen short.”
Bill Gates speaking about the role of creative capitalism.

“We deserve $4 a gallon gas!”
Jimmy Dimon (MBA 1982) lamenting the U.S. government’s inability to create an effective energy policy

“A focus on leadership must not become an exercise in self-satisfaction or congratulation. Leaders exist to serve followers. And leaders’ success must be measured not simply by their power to move others, but by the directions in which they take those who follow them.”
President Drew Faust during her speech on the next 100 years.

“20 years. 7 major crises. 1 major crisis every 3 years. I would suggest to you, that that is not good enough.”
Larry Summers’ very pointed and critical observation of Amercian’s broken financial system.

“The mantra of VC firms has emerged from ‘be local’ in the 80s to ‘be bi-coastal’ in the 90s’ to ‘be global’ in the present day.”
Professor Robert Higgins, General Partner at Highland Capital Partners,
explains the evolution of VC firms given the rise of entrepreneurship in a more global setting.

“I hope he’s my BGIE professor next term. I think I have a ‘man-crush’ on him!”
RC student attending Niall Ferguson’s Keynote at the Business Summit

Running the Numbers
Number of times according to Business Historian Niall Ferguson that the US economy- and consequently the World Economy- has suffered from a severe contraction in the last 100-years: 1930s, 1970s and 2008.

The gap in life expectancy (years) between someone who is relatively well off versus someone who is less fortunate says Larry Summers. Compare this to the fact that eliminating cancer altogether would only add 2 years of life expectancy.

How much the pharmaceutical industry has spent on male pattern baldness compared to malaria according to Bill Gates

What Larry Summers claims is the number of dollars that the top one percent in America gained over the last 20 years, which roughly equals the number of dollars that the bottom 80 percent in America for the same period.

October 20, 2008
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