If every consumer in India and China, totaling up to almost 3 billion, want to live like people in San Francisco, Stockholm or Singapore, can they afford to? Can nature afford it? If not, how do we alter lifestyles and consumption patterns so that growth is sustainable in a more globalized world?
I believe a new generation of economists and social scientists have to once again write and draw on blank slates, like IG’s generation did. There are no textbook solutions. There are no pet answers, no clever models. The rise of Asia, and of the developing world in general, presents us with new challenges – new intellectual challenges, new technological challenges, new organizational and political challenges.