World Economic Forum Meeting in Dubai to Redesign The Global Economy.

Posted by: Bruce Nussbaum on October 28, 2008

On November 4, right after I vote, I fly out to Dubai for a World Economic Forum meeting of 700 people who hope to redesign the global economy post-financial/economic crisis. It will set the stage for the annual WEF meeting at Davos in January.

I belong to the one of the 68 Global Agenda Councils, or GACs the one on Design. It’s one of the “Expertise Councils.” There are also Councils based on Region, Industry and Challenges. Other expertise councils include Geography of Innovation, Social Entrepreneurship, Future of Governments, Benchmarking Progress in Society, Emerging Multinationals, Marketing and Branding, Philanthropy and Social Investing, among others.


Yes, it’s a hodge-podge of overlapping groups but my hope is that this group of very smart people will find a pathway to a new paradigm, that shifts away from consumption to creativity, from carbon to sustainable sources of energy, and from exclusive to inclusive global institutions that incorporate China, India and Brazil. It’s going to take distributed networks of innovation to solve this crisis and we need all the global mind-share we can get.

And, yes, I am troubled about all the flying to Dubai, especially my own carbon footprint. I’m hoping the ideas generated will ultimately prove so beneficial, that the price will be worth it.

Now help me out. What should we talk about? What new paradigm do we need post-crisis?

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Reader Comments

John Allsopp

October 29, 2008 05:19 AM

With all due respect - isn't this (by and large) the brainiacs who got us into the mess in the first place ;-)

But seriously, I posted this comment over at one of the Harvard Business School blogs, but as I am busy, I'll paste it in here

money ain't worth what it used to be. I think the GM examples demonstrates this. Not in the sense of inflation, but something more systemic.

Once upon a time, to create huge value, you needed enormous amounts of capital. Railroads, manufacturing, and so on.

Google now has a market cap orders of magnitudes greater than GM. Probably similar cash on hand (if not more). And the amount of capital required to start and scale it up is essentially zero by comparison. So, what's capital to do? Chase ever more intricate and ultimately frivolous instruments of wealth creation, rather than being required for genuine wealth creation.

The industrial revolution saw the transformation of capital from land to money. Are we seeing a similar transformation of the idea of capital from money? And what to?

Sure, it's only a question in answer to your question.

j

gaurav tyagi

January 28, 2009 08:40 PM

hi..
i am a student..i only have one question.
the ciculation of money is still there in world economy..the purchasing power of people is still there,they still have money to buy..still..the currency printed by various nations is existing in the market(i hope so)
how come there is no money in market?
how come the nations don't have money that they have printed..?

please answer if you can...

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Want to stop talking about innovation and learn how to make it work for you? Bruce Nussbaum takes you deep into the latest thinking about innovation and design with daily scoops, provocative perspectives and case studies. Nussbaum is at the center of a global conversation on the growing discipline of innovation and the deepening field of design thinking. Read him to discover what social networking works—and what doesn’t. Discover where service innovation is going and how experience design is shaping up. Learn which schools are graduating the most creative talent and which consulting firms are the hottest. And get his take on what the smartest companies are doing in the U.S., Asia and Europe, far ahead of the pack.

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