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.
During the next four years...unless drastic steps are taken by Congress, the U.S. will have nearly 8,000,000 unemployed and will stand on the brink of a deep depression.
In Europe and the United States the two decades following the Second World War will for long be remembered as a very good time, the time when capitalism really worked. Everywhere in the industrialized countries production increased. Unemployment was everywhere low. Prices were nearly stable. When production lagged and unemployment rose, governments intervened to take up the slack, as Keynes had urged.
Today, if you look at financial systems around the globe, more than half the population of the world - out of six billion people, more than three billion - do not qualify to take out a loan from a bank. This is a shame.
What Wall Street and credit card companies are doing is really not much different from what gangsters and loan sharks do who make predatory loans. While the bankers wear three-piece suits and don't break the knee caps of those who can't pay back, they still are destroying people's lives.
The hidden hand of the market will never work without a hidden fist.
When a nation is over-reliant on one or two commodities like oil or precious minerals, corrupt government ministers and their dodgy associates hoard profits and taxes instead of properly allocating them to schools and hospitals.
Subscribe for the occasional hand-picked quote. No noise.