Human capital is the foundation of long-term economic growth, yet in Western democracies, it is under severe and structural strain. Education systems are faltering, producing graduates lacking core competencies, while civic discourse increasingly rewards outrage over critical thinking. Meanwhile, the rapid advancement of AI poses a double threat, displacing low- and mid-skilled jobs while demanding higher-order cognitive abilities that our current systems fail to cultivate. This erosion of "Human Intelligence" threatens our ability to innovate, govern effectively, and sustain competitive markets. In Australia, productivity growth has stagnated, reflecting issues in skills development, institutional capacity, and economic dynamism at the same time that rising inequality, falling birth rates, and widespread reliance on government support signal the breakdown of the aspirational social contract. Meanwhile, shallow public understanding of China and a shrinking pipeline of China-literate experts leave Australia dangerously unprepared for a complex strategic environment. This complex array of issues is changing the outlook for economies and investment markets. It is time to make a move – we can each contribute to shaping a smarter, more resilient future, and, by better understanding these issues, practitioners can better manage risk and uncertainty, and design portfolios capable of improving the financial well-being of individuals.

Cheng Lei, Christopher Joye, Graeme Miller, Oliver Hartwich, Vasyl Myroshnychenko | 1.00 CE