Summary of General Ideas

1. Two major themes in the world: globalization and technology

I. A globalized world where monetary and economic phenomena are interlinked

II. Computer technology moving on to its implementation phase

2. Plenty of reasons to be pessimistic and few reasons to be optimistic

I. Abnormal monetary policy is causing poor economic behavior that may be overshadowing strengths in some parts of the economy

3. Period of synchronized growth

I. Most regions of the world are growing together albeit more slowly

4. Healthcare costs and the technological and regulatory imperative

I. An aging population in developed countries is driving the entitlement problem that can be solved

5. Neglected global majorities (i.e. Muslims)

6. Continued migration to cities

I. Increased consumption and hopefully productivity

7. Continued inequality

I. Increased political tension and rising risks of sharp wealth redistribution

8. Global and local scarcity

I. Increasing demand and control of supply could create scarcity market dynamics for important goods

II. Disruption of distribution and population concentration can create regional scarcity

9. The rise of Asian women

I. High growth in Asia coupled with larger number of males than females

10. Layers with increasing returns

I. Rise of digital monopolies

II. Larger technology companies positioned to enter positive feedback loops to gain more market share

11. Convergence and increased competition with the West

I. Rise of developing economies and states

12. Inflation as a Hydra

I. Rising prices a risk of Fed policy

II. Increased lending could lead to overheating

13. Increased access to basic educational materials

I. More global competition

14. Economic effects of environmental sustainability

I. Potentially lower growth in major sectors

II. Opportunities in emerging technologies in energy and transportation

15. Science and the effects of unexpected inventions and breakthroughs

I. Broken incentive structures in most areas of scientific research

II. Distribution of information has low friction that can lead to ‘disruption’ much more quickly than in the past