In our research, we are finding that words used everyday in the finance and insurance industry are either not understood at all, or associated with something unrelated, particularly with millenials.
Gladwell says the disease of the idiot is incompetence. The disease of the expert is overconfidence.
Mr. Paulson may or may not be wondering about the latest financial debacle, but he is most certainly wondering about housing prices and other markets to which he is finely tuned. Because that is what he does. It is his job. And he knows how to turn it into an opportunity. (intentions and motivations aside) He is just forging ahead, wishing the best to the arguers. This is a clear case of follow the leader. Perhaps blindly.
The President says it’s not about stifling innovation with reform, rather the opposite. His new proposition encourages companies to build products and services that are not betting on human behavior, but more on the real needs. If all goes well, the incentives for good behavior will be attractive to entrepreneurs and industries worldwide.