George Soros, the financial philosopher, supporter of civic culture and crusher of the Bank of England, spoke on Tuesday morning in NYC, warning that Americans are denying the magnitude of their problems.
He said “You can’t expect market participants to resist bubbles which is why you need an outside force to prevent them from going too far. Unlimited innovation can be harmful.”
Soros also believes that we now live in beta—constant change that is unforseen. ” My theory is the future is unpredictable so I’m not going to predict it…it’s not the time to have firm conviction.” Hedge funds and Wall Street firms are not investing on fundamentals, he said, making markets more volatile.
So we shouldn’t feel so relieved that the bottom has not dropped out of the global economy.
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.