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Noreena Hertz [1967-0] English
Rank: 101
Author, Economist


Noreena Hertz is an English academic, economist, author and the Economics Editor of ITV News. In 2001 The Observer newspaper dubbed her "one of the world's leading young thinkers" and Vogue magazine described her as "one of the most inspiring women in the world.".

Environmental, Finance, Intelligence, Positive, Power, Romantic, Wisdom

QuoteTagsRank
All of us show bias when it comes to what information we take in. We typically focus on anything that agrees with the outcome we want.
101
Governments have been ceding power to big multinational corporations in the market. We see the manifest in a variety of ways. Where governments are giving up power to big international institutions like the World Trade Organization or NAFTA, which are disabling governments' ability to protect the rights of their own people. Power
102
Debt vultures are really the scum at the bottom of the pond. These are guys who buy up the debts of the world's poorest countries on the secondary market. You can go buy debts of a country like Peru, for example, at a real discount. Why? Because people think that the debts won't be repaid.
103
We need to know how we are feeling. Mindfully acknowledging our feelings serves as an 'emotional thermostat' that recalibrates our decision making. It's not that we can't be anxious, it's that we need to acknowledge to ourselves that we are.
104
Transparency, accountability and sustainability have become the slogans of the market leaders. Companies carry out environmental and social audits to court the consumer, and even the bluest chips woo organisations such as Greenpeace and Amnesty. Environmental
105
From solar to electric cars, from geothermal to reconfiguring the grid, the scale of investment needed in green technologies in order to meet whatever agreements on emissions reductions are finally agreed will be immense.
106
I try to take a weekly digital Sabbath, batch my emails so I deal with them a few times a day rather than constantly, and increasingly give myself permission to ignore unsolicited communiques. I try, too, to give others more slack. The respond-now culture is a two-way street. I'm trying to be more mindful of that.
107
We are beginning to see a fundamental outrage at the whole interconnected mess of a system: at energy companies who record massive profits, yet allow pensioners to struggle to stay warm in winter; at CEOs who can earn up to a 1,000 times the salary of their average worker; and soon, any day now, at those politicians who allowed this to happen.
108
We live increasingly in a world of haves and have-nots, of gated communities next to ghettos, of extreme poverty and unbelievable riches. Some enjoy rights that are completely denied to others. Relative inequalities are exploding, and the world's poorest, despite all the advances of globalisation, may even be getting poorer.
109
Most of us are going through life without interrogating whether our decision-making processes are fit for purpose. And that's something we need to change - especially when the stakes are high and the decisions are of real import.
110
It's actually very surprising how little we think about the quality of our decision-making and how we could improve it. How absent decision-making classes are from educational curricula. How little we think about how it is we think.
111
People are looking for certainty. The more complex the world becomes, the more people look for people to give them certainty and tell them what to do. During the past few years of actively thinking about this, there is one thing that I have accepted: certainty is not out there. There is not one strategy to follow, and that's OK.
112
Women who have managed to get successful normally have had to carve out pretty much their own route for doing it, because there are few roadmaps for how, as a woman, you become successful. You think about having to do it yourself, you carve your own way. Does that relate to being Jewish?
113
Forcing companies to recruit away from the golf course might lead to the appointment of more women from NGOs and academia and medicine, all of whom are likely to understand such concepts as stewardship and sustainability much better than men picked from the usual hunting grounds.
114
Get into the habit of imagining an alternate scenario. By posing such 'imagine if' questions... we can distance ourselves from the frames, cues, anchors and rhetoric that might be affecting us.
115
Errors in decision-making lead young people to under-save for retirement, doctors to miss tumours, CEOs to make catastrophic investments, governments to engage in needless wars, and parents to irreversibly traumatize their children.
116
Experience is not the poor relation of expertise. Valuable insights in business often come from the people on the ground.
117
If somebody tweets 'I like Coca-Cola,' does that mean that they're actually going to buy Coca-Cola? One can? Two cans? Three cans? If they retweet someone else's Tweet, does that mean they're going to buy it?
118
Employees speak of being fearful opening emails and feeling increasingly helpless in the face of the deluge. Physiologically, we now know that the state of continuous disruption puts us into a constant state of hormone-induced stress.
119
With clothing being designed that allows you to be hugged virtually, video conferencing becoming ever sharper, and our social and romantic lives increasingly taking place online, the gap between the physical and the virtual is getting ever smaller. Romantic
120
Back in the 1970s, Kodak tried to give $25m to a black civil rights organisation in Rochester, New York. The company's shareholders rose up in arms: making this politically charged offering wasn't the reason they had entrusted Kodak with their money. The donation was withdrawn.
121
I've become increasingly fascinated with social media to improve on traditional ways of preparing for and predicting the future.
122
The problem lies with us: we've become addicted to experts. We've become addicted to their certainty, their assuredness, their definitiveness, and in the process, we have ceded our responsibility, substituting our intellect and our intelligence for their supposed words of wisdom. Intelligence, Wisdom
123
I have problems with this very extreme form of capitalism where the pendulum has swung so far in one direction, where the focus is completely on the short term, and no one is thinking about the consequences.
124
All company bosses want a policy on corporate social responsibility. The positive effect is hard to quantify, but the negative consequences of a disaster are enormous. Positive
125
The World Trade Organization is an organization that defends trade interests. I think the problem is less that they exist. The problem is that internationally we've only got an organization that protects trade interests. Surely we need some kind of counterweight to protect human rights and the environment, too.
126
We are deluged with information. We have to process now three times as much data as we would have done 50 years ago. We're bombarded with tweets, with emails - a state of continuous disruption - and that's bad for our decision making and bad for our thinking.
201
As an economist specializing in the global economy, international trade and debt, I have spent most of my career helping others make big decisions - prime ministers, presidents and chief executives - and so I'm all too aware of the risks and dangers of poor choices in the public as well as the private sphere.
202
Stress makes us prone to tunnel vision, less likely to take in the information we need. Anxiety makes us more risk-averse than we would be regularly and more deferential.
203
I really believe in a globalist agenda, but globalization isn't just allowing companies to trade freely all over the world. It's about what types of rights and responsibilities come with that.
204
I grew up in a home where I was literally told from a young age, 'No daughter of mine will ever wash a man's socks,' and I am pleased to say I never have. It was made clear that whatever I wanted to do I should aspire to, regardless of my gender.
205
When Apple introduced its game-changing iPhone in 2007, Nokia was caught sleeping on the job. Although it had actually developed an iPhone-style device - complete with a color touchscreen, maps, online shopping, the lot - some seven years earlier. Astonishingly, it never released the product.
206
Child labour may be distasteful to westerners, but does boycotting goods made with child labour improve or exacerbate the lot of third world children? Trusting the market to regulate may not ultimately be in our interest.
207
Rather than empowering all, consumer and shareholder activism gives greatest voice to those with the most money in their pockets, those who can switch from seller to seller with relative ease. Consumer and shareholder activism is a form of protest that favours the middle classes, an outpouring of the dissatisfaction of the bourgeoisie.
208
We must embrace a new agenda based on inclusiveness; a commitment to reconnecting the social and the economic; a relinking of the latter to a plausible redistributive system; and a determination to ensure that everyone has access to justice. All these things are within our reach.
209
The global policy shift toward neo-liberalism that took place during the 1980s and 1990s was supposed, according to its proponents, to bring a convergence of living standards of richer and poorer nations. This never actually happened.
210
Our guts can really mislead us. Sometimes, what we think of as our gut is something else, like an outside influence. If you're going to buy an apartment and it smells of freshly baked bread, you're more likely to want to buy it.
211
What my research has shown me is that experts tend on the whole to form very rigid camps; that within these camps, a dominant perspective emerges that often silences opposition; that experts move with the prevailing winds, often hero-worshipping their own gurus.
212
Managing dissent is about recognizing the value of disagreement, discord and difference.
213
I don't believe you can reduce the world to a mathematical formula. I start with the world, assume it's complicated, and ask where can I get help from a whole range of disciplines.
214
My parents decided - because they were not going to teach us anything Jewish at home - to send both me and my sister to a Jewish primary school. So I went to Kerem Primary School in Hampstead Garden Suburb. But, for me, that school really didn't work that well.
215
Email is having an increasingly pernicious effect. Not only is it having a perceptible effect on productivity, it's skewing what it is we focus on. The immediate increasingly crowds out the important.
216
Surely in a world of email, video conferencing and virtual assistants, isn't being expected to show up at the office extremely anachronistic? Yet to date it seems that where one works does matter. That creativity and innovation do feed off physical interactions between people.
217
The term 'glass ceiling' was coined in 1984. More than 20 years later, the ceiling has barely cracked. There isn't a single country in the world that has as many female as male politicians. In business, the situation is even worse. Its highest echelon - the board - remains a chauvinist's dream.
218
When it comes to getting more women into parliament, politicians have at least started to take active measures. The British Labour Party introduced all-female shortlists in 1997.
219
Having women on boards is good for women, good for the economy and good for society. A win-win-win outcome: how rare.
220
At the end of the day, philanthropy can only ever be an adjunct to what governments provide. And government coffers need to be replenished.
221
If power lies more and more in the hands of corporations rather than governments, the most effective way to be political is not to cast one's vote at the ballot box, but to do so at the supermarket or at a shareholders' meeting. When provoked, corporations respond.
222
It is a world of extremes, which can be characterised most clearly in terms of exclusion. That means political exclusion, whereby the rights of citizens are marginalised by the interests of big business: George W Bush's environmental policy, for example, is clearly formulated in the interests of U.S. energy companies. Environmental
223
Terrorism and trade cannot be the only issues on which the world unites. We must commit ourselves to a global coalition to deal with exclusion, too.
224
We need to have much clearer regulations on things like corporate funding of scientific research. Things need to be made explicit which are implicit.
225
In an age that is sometimes nowadays frightening or confusing, we feel reassured by the almost parental-like authority of experts who tell us so clearly what it is we can and cannot do.
226
I'm really looking at questions of power, navigation, and spin. Then I am also looking for real-world stories that give me greater insight into smart and new ways of thinking.
301
My parents were entrepreneurs. I grew up believing in the power of innovation.
302
Without industry, finance and government consciously and collaboratively ensuring that capital flows to where it is needed in order to ensure the scaling up of climate change solutions, whatever deal is agreed risks never being realised. Finance
303
What about those who help growth indirectly, those who stay at home and look after others - mothers, carers of elderly parents or sick relatives who save the state millions of pounds annually. What is their worth? How is their value to be determined?
304
My mother was really involved with the Refusenik campaign with Soviet Union Jews. They would come and stay at our house, some of them, after they managed to get out of the Soviet Union at the time. There were things that were Jewish-related happening in my house quite consistently, but it was much more from a kind of activist standpoint.
305
I was really interested to see whether we could make predictions or forecasts by listening in on what people were saying on social media.
306
Language is too complex for a computer to understand. It's not going to be able to make sense of what people are saying en masse. We need a new type of discipline that puts together computer scientists and social scientists, who can add context to the situation.
307
It's possible that Generation Facebook, accustomed as it is to a whole range of experiences that it only imbibes online, doesn't have the same need for physical interaction in order to be creative as previous generations still do. It's possible that Generation Facebook can co-create and collaborate quite happily from afar.
308
The challenge for corporations, if offices were to become obsolete, is twofold. How will they be able to retain their distinct cultures? And how will they be able to ensure that all employees, wherever they work from, share a united identity and vision?
309
So key for making smart decisions is a mindset that actively monitors and is open to shifting tides and new information, one that is acutely aware that the interplay between our environment and its outcomes is ever in flux.
310
We are all socialists now, it seems. John McCain, David Cameron and Gordon Brown attack bankers' irresponsible behaviour and salaries, and call for state intervention in the financial markets. But these calls will not get them elected or re-elected if they are addressed only to the banking sector.
311
Goodwill and reputation are intangibles, but they are the keys to business success. Since they are also inexorably linked to social values, it follows that a change in social norms will have a significant impact on profits.
312
We are living in a time in which movies such as 'Super Size Me' and 'An Inconvenient Truth' have made box-office history, and books such as 'No Logo' and my own, 'The Silent Takeover,' are bestsellers.
313
Philanthropists today want input into how their monies are being deployed. The big question is, can governments use this insight to sell the rich the idea of paying more tax rather than spend more on charitable giving?
314
It's not that I am against the rich giving money to charities. I'm all for it, and we should think of ways of encouraging more of it. But I also believe that states, rather than individuals, are ultimately a better bet for delivering a fair and just world and reconciling differing interests.
315
Most philanthropists would still rather donate to elite schools, concert halls or religious groups than help the poor or sick.
316
I grew up in a highly political home. My mother was the co-chair of the 300 Group, an organisation whose aim was to get more women MPs into parliament, and she herself stood in the 1987 election, the year before she died.
317
With consumers having ever more choice, corporations must invest more and more in courting public opinion.
318
Consumers, unlike voters, expect an immediate response to their concerns; and companies, unlike governments, do not have the luxury of a mid-term lull.
319
I was - the last protest I was at was in Genoa, where I got tear gassed, and I hate tear gas, and I hate being in crowds.
320
Countries that need monies so that they can provide health care and education and shelter to their people shouldn't have to repay debts that we knowingly lent to bad regimes long since gone; and all illegitimate debts - debts lent to these terrible dictators like Saddam Hussein, like Suharto, like Marcos - must also be canceled.
321
Most organisations do not actively seek out input from their lower echelons.
322
Most of us are 'ultraconformists' when it comes to who we are most likely to follow... to socialise with, or even who we are most likely to hire.
323
Things do go wrong. Not everyone benefits from the capitalist dream.
324
You want to challenge experts, because experts get a lot wrong. Doctors misdiagnose one time in five. In the U.S. and Canada, 50,000 people die every year who would not have had to.
325

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