A short interview with Peter Thiel, who sounds like an interesting thinker just based on this read.
Thiel: People take it for granted that their retirement funds can earn 8.5 percent a year. That’s what their financial planners tell them. And sure, you look back over the past 100 years, the stock market has generally gone up 6 to 8 percent a year. But in a larger historical perspective, that kind of growth is exceptional. If you had done the equivalent of investing in the stock market from, say, 1000 to 1100 AD, you would not have made 8 percent a year. During the fall of the Roman Empire, you’d have been lucky to get zero. We’ve been living in a unique period of accelerating technological progress. We’ve gone from horses to cars to planes to rockets to computers to the Internet in a very short time. It’s not automatic that that continues.
Wired: What happens if we don’t get the growth everyone expects?
Thiel: If it doesn’t happen, people will go bankrupt in retirement. There are systemic consequences, too. If we don’t have enough growth, we will see a powerful shift away from capitalism. There are good things and bad things about capitalism, but inequality becomes completely intolerable to society when everything’s static.
As I get older, the thing I try to emphasize most in my thinking is to challenge all assumptions. We all tend to accept too many things as gospel because they've always been that way.
Education, for example, is important, but is our current global school system the best one for the job? Sir Ken Robinson's TED talk this year drilled in on that question. Here's an excerpt, with Robinson's full talk embedded below.
If you were to visit education as an alien and say what's it for, public education, I think you'd have to conclude, if you look at the output, who really succeeds by this, who does everything they should, who gets all the brownie points, who are the winners, I think you'd have to conclude the whole purpose of public education throughout the world is to produce university professors. Isn't it. They're the people who come out the top. And I used to be one, so there. And I like university professors, but you know, we shouldn't hold them up as the high-water mark of all human achievement. They're just a form of life, another form of life. but they're rather curious and I say this out of affection for them, there's something curious about them, not all of them but typically, they live in their heads, they live up there, and slightly to one side. They're disembodied. They look upon their bodies as a form of transport for their heads, don't they? It's a way of getting their head to meetings.
If you want real evidence of out-of-body experiences, by the way, get yourself along to a residential conference of senior academics, and pop into the discotheque on the final night, and there you will see it, grown men and women writhing uncontrollably, off the beat, waiting until it ends so they can go home and write a paper about it.
Now our education system is predicated on the idea of academic ability. And there's a reason. The whole system was invented round the world there were no public systems of education really before the 19th century. They all came into being to meet the needs of industrialism.
So the hierarchy is rooted on two ideas: Number one, that the most useful subjects for work are at the top. So you were probably steered benignly away from things at school when you were a kid, things you liked, on the grounds that you would never get a job doing that. Is that right? Don't do music, you're not going to be a musician; don't do art, you're not going to be an artist. Benign advice -- now, profoundly mistaken. The whole world is engulfed in a revolution.
And the second is, academic ability, which has really come to dominate our view of intelligence because the universities designed the system in their image. If you think of it, the whole system of public education around the world is a protracted process of university entrance. And the consequence is that many highly talented, brilliant, creative people think they're not, because the thing they were good at at school wasn't valued, or was actually stigmatized. And I think we can't afford to go on that way.