For almost the entire existence of humanity our life experience has been what Thomas Hobbes described as: nasty, brutish and short. All of the progress we have made has occurred during just the last few hundred years and has occurred thanks to the mutually reinforcing developments of liberal democracy, capitalism and scientific enlightenment. It is therefore a tragedy that, in recent years, surveys of people’s satisfaction have shown a marked loss of faith in the ability of democracy and capitalism to deliver fair outcomes. Whilst I empathize with those who have been victims of the hollowing-out of the middle classes due to globalization, and who have suffered from increasing wealth disparity since the Global Financial Crisis of fifteen years ago, I fear that the alternatives to democracy and capitalism would be far worse.
Because people have individual agency, human society is a complex adaptive system (CAS). CAS have several important properties: they are highly non-linear, tending to obey power laws, and are deeply interconnected, rendering invalid classic techniques such as breaking a system down into individual components, having experts solve each component separately, and then reconstituting the whole. As in the world of quantum mechanics, there is no independence between the system under observation and the people doing the observing, resulting in these systems exhibiting the property of adaptivity; they change over time in ways which are unpredictable, rendering invalid forecasting techniques based of the analysis of historical data.
Collectively these properties are the reason why, in respect of human affairs, the future is fundamentally unknowable, and this is precisely why democracy is the best form of political organization, free-market capitalism is the best form of economic organization, and why true diversity is imperative for the long-term health and well-being of any organization.
The Federal Reserve Bank was set up after an Act of Congress passed in 1913, in response to the Knickerbocker Trust crisis of 1907, to stabilize banks and the US financial system. Subsequent crises have seen the Fed's role expand further (never let a crisis go to waste!) to encompass the management of monetary policy to maintain low and stable inflation together with full employment in the US economy, as well as financial market stability.
However, as a result of well-intended, but nevertheless fundamentally misguided management of monetary policy and the mismanagement of bank regulation the Fed inadvertently caused the Global Financial Crisis of 2007 • 2009 and subsequently exacerbated its effects, driving the increasing wealth disparity which is at root the cause of the loss of faith in our democracy and in free market capitalism to deliver the American Dream.
Time for a re-think of the Fed's role.
Dr. Paul Shotton is a keynote speaker and industry expert who speaks on a wide range of topics such as Doomed To Fail - Why Government Is Incapable Of Living Up To Our Hopes and Why It's Time To Re-Think The Role Of The Federal Reserve. The estimated speaking fee range to book Dr. Paul Shotton for your event is $10,000 - $20,000. Dr. Paul Shotton generally travels from New York, NY, USA and can be booked for (private) corporate events, personal appearances, keynote speeches, or other performances. Similar motivational celebrity speakers are Sir Richard Branson, Amy Jo Martin, Andrew Busch, Gary Vaynerchuk and Peter Guber. Contact All American Speakers for ratings, reviews, videos and information on scheduling Dr. Paul Shotton for an upcoming live or virtual event.
This website is a resource for event professionals and strives to provide the most comprehensive catalog of thought leaders and industry experts to consider for speaking engagements. A listing or profile on this website does not imply an agency affiliation or endorsement by the talent.
All American Entertainment (AAE) exclusively represents the interests of talent buyers, and does not claim to be the agency or management for any speaker or artist on this site. AAE is a talent booking agency for paid events only. We do not handle requests for donation of time or media requests for interviews, and cannot provide celebrity contact information.
If you are the talent and wish to request a profile update or removal from our online directory, please submit a profile request form.