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.
There never has been a time in our history when work was so abundant or when wages were as high, whether measured by the currency in which they are paid or by their power to supply the necessaries and comforts of life.
Big companies are reliant on institutional investors on a punishing schedule which leads to ruthless behaviour. This form of capitalism with this structure and incentives will never deliver sustainability.
An economy can survive with 10% of the population insolation. It can't survive when 50% of the population is in isolation.
Money is not an invention of the state. It is not the product of a legislative act.
The thing I've learned most about poverty is how expensive it is to be poor. It's super easy to pay rent every month if you earn enough to pay rent and have a decent job. It's super hard to pay rent if you need a coupon from the state and then need to go find an apartment that will accept that coupon and only that coupon.
If you're totally illiterate and living on one dollar a day, the benefits of globalization never come to you.
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