Thought for the day

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It is now generally accepted that reckless lending has helped cause the greatest collapse in the global economy since the Depression years of the 1930′s. Yet many bankers still maintain it is vital they continue to pursue “innovation” of the type that has brought about this collapse.

Martin Wolf, a former EPCA speaker, makes a good riposte to this argument in today’s Financial Times. He notes that “maximising innovation is a crazy objective. As in pharmaceuticals, a trade-off exists between innovation and safety”.

About Paul Hodges

Paul Hodges is Chairman of International eChem, trusted commercial advisers to the global chemical industry. He also serves as a Global Expert for the World Economic Forum. The aim of this blog is to share ideas about the influences that may shape the chemical industry and the global economy over the next 12 – 18 months. It looks behind today’s headlines, to understand what may happen next in critical areas such as oil prices, China and Emerging Markets, currencies, autos, housing, economic growth and the environment. Please do join me and share your thoughts. Between us, we will hopefully develop useful insights into the key factors that will drive the industry's future performance.


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