L E A D IN G E D GE


If we do not innovate in the way we think


about money, wealth, equality, the environment, then most of us are dead


Mark Stevenson, a London-based author,


broadcaster, and expert on global trends and innovation, has a grittier vision. We are at a crossroads as a species and “everything is up for grabs”, the futurist and author of An Optimist’s Tour of the Future notes. The systems used to govern for the last 150 years and the way we think about money are “wholly unfit” for the challenges humanity faces, he says. “If we do not innovate in the way we


think about money, wealth, equality, the environment, then most of us are dead. There are some thoughtful high net worth people who are beginning to understand that how they made their money is part of the problem.” Stevenson says if humanity does not


change its ways, the year 2050 will be an extrapolation of the dire situation already evident all around us. At the root of many of our challenges is growing wealth inequality—the richest 1% saw their share of the globe’s total wealth increase from 42.5% at the height of the 2008 financial crisis to 50.1% in 2017, or $140 trillion, according to the Credit Suisse Research Institute’s Global Wealth Report 2017.


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JOBS FOR THE BOYS AND GIRL S Family businesses have traditionally understood the link between staff welfare and sustainable success, so what will this relationship look like in 2050? A lot will depend on how the seismic changes affecting the global workforce will play out. About half of the jobs done by humans will be up for automation in the next 25 years, Stevenson predicts. However the next generation of workers


are not being educated into a world that understands and can harness technologies like artificial intelligence in a socially useful way. As much as one-fifth of today’s labour


force, 800 million workers in developed and emerging economies, may lose their jobs to robots and automation by 2030, says consultancy firm McKinsey & Company. PwC says 38% of jobs in the US could be at risk of automation by the early 2030s, compared with 30% in the UK, 35% in Germany and 21% in Japan. Democratic governance is failing. The


Economist Intelligence Unit’s annual study of global democracy in 167 countries found 45% of the world’s population lives in “flawed democracies”.


ISSUE 72 | 2018


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