A Quote by Lisa Gansky
Insurance and funding traditionally drive capital investment. But in a world based on access, not ownership, the duration, value, cost and extent of financial services is distinctly different.
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Capital movements are no longer necessarily related to the production of goods and services. Through the financial markets of the world, capital movements today are overwhelmingly concerned with the capture of and trade in property rights, the ownership of assets that magnify a corporation's wealth, power, and control. It is what John Maynard Keynes described as "a casino world"-wealth without worth.
I think that the environmental movement is wisely moving away from a largely emotion-based argument for the spiritual or intrinsic value of Nature with a capital "N" and evolving toward a very hard-nosed case for the economic value of natural capital, ecosystem services, biodiversity, etc.
A rentier is an investor whose relationship to a company or enterprise is strictly limited to the ownership of financial wealth (such as stocks or bonds) and the receipt of income on that wealth (such as dividends or interest). The financial system performs dismally at its advertised task, that of efficiently directing society's savings towards their optimal investment pursuits. The system is stupefyingly expensive, gives terrible signals for the allocation of capital, and has surprisingly little to do with real investment.
When I started Biocon in 1978, the obstacles I needed to navigate were manifold - ranging from infrastructural hurdles to issues related to my credibility as a business woman. With no access to venture capital, money was scarce and high-cost, debt-based capital was all I had.
Like gold, U.S. dollars have value only to the extent that they are strictly limited in supply. But the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost. By increasing the number of U.S. dollars in circulation, or even by credibly threatening to do so, the U.S. government can also reduce the value of a dollar in terms of goods and services, which is equivalent to raising the prices in dollars of those goods and services.
We believe digital payments are making financial services more universally affordable, accessible and, therefore, have the opportunity to drive financial inclusion and financial health for billions worldwide.
Our large size, capital base, robust funding profile, extensive distribution network, diversified portfolio, presence across the financial services sector, and leadership in technology position us very well to leverage the growth opportunities across the economy.
Blockchain technology represents a generational opportunity to mutualize database infrastructure across entities within financial services. What that translates into is an enormous cost-saving, risk-reducing, and capital-enhancing opportunity.
America is the only advanced industrial democracy where people can get sick and languish because they can't afford care. Or where people are blocked in access to the system because they don't have access to insurance, which is only available through certain narrow portals and under certain very restricted conditions. We're the only society that hasn't embraced this idea that no one should go without access to these services, regardless of their financial condition. And no one should be saddled with a lifetime of debt because they have the misfortune of falling ill.
What an economy really wants, after all, is not more investment per se but better investment. It wants capital to flow to companies that will create value - not in the form of a rising stock price but in the form of more goods for less cost, more jobs, and rising wages - by enhancing productivity.
The 2.5 billion adults [around the world] without access to financial services are disproportionately women and young people. There are at least 44 million unbanked or underbanked people in the United States, so clearly financial inclusion is needed in all markets.
We should allow people to purchase health insurance across state lines. That will create a true 50-state national marketplace which will drive down the cost of low-cost, catastrophic health insurance.
Financial inclusion matters not only because it promotes growth, but because it helps ensure prosperity is widely shared. Access to financial services plays a critical role in lifting people out of poverty, in empowering women, and in helping governments deliver services to their people.
Our strength in finance has led us to set up an international financial centre with medium and long-term objectives, especially to develop Islamic financial and insurance services.
The single best thing we can do is expand competition. Let people purchase health insurance across state lines. If you want to expand access, what you want to do is increase choices and drive down cost.
We accelerated our capital spending in the fourth quarter, particularly in international and next-generation network deployment, which should not only sustain future revenue growth but also drive significant cost reductions across all communications services.
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