Enormous forces are affecting the world, and we can't possibly overestimate their importance. These include demographic developments, climate change, digitalization and the rise of Asia. And then there's the most important one: the end of a life lived on credit. We must finally free ourselves from debt.

Debt is not intrinsically bad. But I make clear to my children that they should only borrow as much as they will be able to pay back.

Enormous forces are affecting the world, and we can't possibly overestimate their importance. These include demographic developments, climate change, digitalization and the rise of Asia. And then there's the most important one: the end of a life lived on credit. We must finally free ourselves from debt.

Asia has an army of low-wage laborers to thank for its economic boom.

A Facebook message will never be able to replace face-to-face interaction.

Everything that individuals ever say or write can be used against them at a later point.

For more than 3,000 years, China and India accounted for half of the world's economic output. But then the Industrial Revolution gave North America and Europe 150 golden years. If you take the long-term perspective, our economic dominance has been more of an exception than the rule.