1. Overconfidence Is Out of Fashion

Davos is full of people who in normal times make a living by pretending to understand how the world works. So it was telling when, in the middle of a discussion among several prominent global economic figures, moderator and Financial Times columnist Martin Wolf declared, "It may be the first well-informed panel I've ever moderated, in the sense that you all know you don't know anything." Humility is the new competence.

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