I'm of those who believe that excesses in all matters are not a good idea, whether it's formation of bubbles, whether it's excess in the financial market, whether it's excess of inequality, it has to be watched, it has to be measured, and it has to be anticipated in terms of consequences.
Interpretation
Excess in any area can lead to negative consequences, and we must monitor and anticipate these risks.
Christine Lagarde emphasizes the importance of moderation and vigilance in various aspects of life, particularly concerning economic phenomena such as market bubbles and inequality. She warns that excesses can have detrimental effects, urging us to watch, measure, and foresee the potential consequences that such extremes can bring.
In practice
A financial expert could use this quote to discuss the importance of regulation in financial markets during a seminar.
In the 2013 Economists Program, we hired 51 percent women, 49 percent men. And the reason for that is that we have a draft from all over the world, and we've hired, for instance, in that group, a good number of Chinese economists - highly qualified, all Ph.D.s from the best universities of the world. And guess what? They're all women.
Tackling climate change is a collective endeavour, it means collective accountability and it's not too late
I have lived with extraordinary women, whether it was my grandmother, my mother. My father passed away when I was 16... I was witness to a woman who single handedly brought up the entire family and managed to do everything... She was an extraordinary role model for me.
You know, when I sit in meetings and things are very tense and people take things extremely seriously and they invest a lot of their ego, I sometimes think to myself, 'Come on, you know, there's life and there's death and there is love.' And all of that ego business is nonsense compared to that.
Very often as a little girl, then as a young woman, I have suffered my lot of discrimination. I was brought up with brothers; I grew up in a boys' world. You have to elbow your way in. When you come with that sentiment of having been in a minority for a long period of time, then you are much more attentive to minorities.
To me, leadership is about encouraging people. It's about stimulating them. It's about enabling them to achieve what they can achieve - and to do that with a purpose.
So Europe needs to be competitive and we also need to be competitive if we wish to remain an interesting economic partner for the United States. This has to be done on the basis of strength, of competitiveness.
The perennial conviction that those who work hard and play by the rules will be rewarded with a more comfortable present and a stronger future for their children faces assault from just about every direction. That great enemy of democratic capitalism, economic inequality, is real and growing.
When money is free, the rational lender will keep on lending until there is no one else to lend to.
If Europe today accounts for just over 7 per cent of the world's population, produces around 25 per cent of global GDP and has to finance 50 per cent of global social spending, then it's obvious that it will have to work very hard to maintain its prosperity and way of life.
When people begin anticipating inflation, it doesn't do you any good anymore, because any benefit of inflation comes from the fact that you do better than you thought you were going to do.
Free migration within Europe means that countries that have done a better job at reducing unemployment will predictably end up with more than their fair share of refugees. Workers in these countries bear the cost in depressed wages and higher unemployment, while employers benefit from cheaper labor.
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