What role will innovation play in the future the global economy? What forces stand against innovation – and how can they be overcome?

In this episode, Christophe Donay, Head of Asset Allocation & Macro Research at Pictet Wealth Management, meets economist and Nobel laureate Joseph Stiglitz to discuss the world in our time and the importance of continuing innovation. Professor Stiglitz is a Professor at Columbia University and former Chief Economist of the World Bank – and a former Chair of the US President’s Council of Economic Advisers.


Appearing in this episode

Joseph E. Stiglitz is an American economist and a professor at Columbia University. He is also the co-chair of the High-Level Expert Group on the Measurement of Economic Performance and Social Progress at the OECD, and the Chief Economist of the Roosevelt Institute. A recipient of the Nobel Memorial Prize in Economic Sciences (2001) and the John Bates Clark Medal (1979), he is a former senior vice president and chief economist of the World Bank and a former member and chairman of the (US president's) Council of Economic Advisers. In 2000, Stiglitz founded the Initiative for Policy Dialogue, a think tank on international development based at Columbia University. He has been a member of the Columbia faculty since 2001 and received that university's highest academic rank (university professor) in 2003. In 2011 Stiglitz was named by Time magazine as one of the 100 most influential people in the world. Known for his pioneering work on asymmetric information, Stiglitz's work focuses on income distribution, risk, corporate governance, public policy, macroeconomics and globalization. He is the author of numerous books, and several bestsellers. His most recent titles are People, Power, and Profits, Rewriting the Rules of the European Economy, Globalization and Its Discontents Revisited, The Euro and Rewriting the Rules of the American Economy.

Christophe Donay joined Banque Pictet& Cie SA in 2008 as chief strategist of the Wealth Management unit in charge of asset allocation and macroeconomic research. He is also a member of the Wealth Management Investment Committee, a member of the Investment Board and chairman of the Investment Strategy Committee of the Pictet Pension Fund. Christophe has over 30 years’ experience in financial markets. Earlier in his career, he conducted research in applied mathematics at INSEAD. He then joined BNP Paribas as financial engineer for the arbitrage desks. Later he headed the economic research, investment strategy and derivative products business lines at Kepler Chevreux.Christophe holds Master degrees in economics and in econometrics from the Universities of Paris X and Paris II and a diploma of EFFAS (European Federation of Financial Analyst Societies).

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