The global economy is running in a “paradigm vacuum” as the classical theories of marginal change, equilibrium and rational markets are breaking down. Amid the void, University of Oxford professor Eric Beinhocker said investors must seek new economic tools that reflect how the world actually works.
In Western economies, the idea that if you contribute you get something back has died. Oxford’s Eric Beinhocker says the key to fixing things lies in the system’s ability to foster innovation.
Will long-term GDP growth behave like bacteria in a petri dish or rabbits on a deserted island? The answer has implications for investors attempting to construct sustainable portfolios.
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