"When designed and implemented correctly, ‘conditional financing’ can: 1) steer resources towards the strategic objectives; 2) avoid speculative capt… - Alessandro Magnoli Bocchi

"The future is not a straight-line-projection of the past. Yet, most people - even scientists - think in linear, cause-effect patterns. The real world works differently: events follow discontinuous random walks, not predictable trends. At best, we can only assess the ‘likelihood of forthcoming events’. A rule-based approach is often misleading; to forecast future developments, we need probabilistic - rather than deterministic – thinking".

"Every day, 1) ‘simple systems’ become complex: for example, a village becomes part of a city; and 2) ‘complex systems’ become more complex: for instance, financial markets embrace machine learning. Often, an increase in complexity leads to unintended consequences".

"The state needs to enable the markets, but - contrary to the dreams of planners and technocrats - development cannot be ‘state-managed’. For the business environment to lead to innovation, the state needs to protect ‘public goods’ such as: 1) competition; and more broadly 2) the entrepreneurial spirit. Policymakers must achieve a practical, dynamic balance in the state-market mix".