URL: http://www.brettonwoods.org/news/index.php/289/From_Sarkozy_to_Soros
From Sarkozy to Soros
by Bill Gates, Howard Davies, Martin Sorrell, Jasmine Whitbread, John Gapper, Chris Giles, and Martin WolfFebruary 10, 2010
Bill Gates: Making the difference between a bleak and a bright future
One of the big topics of conversation here in Davos is the economy. In panel discussions and hallway conversations, people are talking about the long-term effects of the recession of 2009. While it is true that we will see lingering unemployment and huge government deficits for quite some time, the big story is actually much more positive. I believe we can make amazing progress in the years ahead to improve people’s lives around the world. The key is to keep investing in innovation. It is what makes the difference between a bleak and a bright future.
During the past two centuries, a huge number of innovations have fundamentally changed the human condition – more than doubling our life span and giving us cheap energy and more food. If we project what the world will be like 10 years from now without continuing innovation in health, energy or food, the picture is quite dark. Health costs for the rich will keep escalating, forcing tough trade-offs, and the poor will be stuck in the bad situation they are in today. We will have to increase the price of energy to reduce consumption, and the poor will suffer from both this higher cost and the effects of climate change. We will have big food shortages because we won’t have enough land to feed the world’s growing population.