Facebook and other social networking sites are bringing together spheres that used to be separate. People no longer have private and public lives; the line between the two is becoming blurred.

Since loans are getting more expensive and there's less money available, we're seeing a commensurate decline in growth. Higher costs and lower growth, in turn, translate into lower profits. Figuratively speaking, in the future, we won't be able to run as far or jump as high as we used to.

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

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.

The heads of leading American universities say that if they selected applicants based on grades alone, their student bodies would be 100 percent Asian.

Facebook and other social networking sites are bringing together spheres that used to be separate. People no longer have private and public lives; the line between the two is becoming blurred.