Anatole Kaletsky
Boards are being asked to set capital allocation, pricing and geographic strategy inside a macro regime that no longer behaves like the one they built their planning assumptions around. Central bank policy, geopolitical fracture and the long tail of successive financial crises have made the old rules unreliable, but most leadership teams still rely on forecasts that treat each shock as an anomaly. What they need is a coherent reading of how the system itself has changed, and what that means for the next decade of decisions.
Anatole Kaletsky is a macro-economist and author of Capitalism 4.0 who helps boards and investors read how global policy, markets and geopolitics are reshaping the rules of the economy.
Full Profile
Why organisations work with Anatole Kaletsky
- He runs the macro research that institutional investors act on. As chairman and chief economist of Gavekal, his work is priced in by hundreds of banks, asset managers and corporates, not written for a general audience.
- He wrote the book on post-crisis capitalism. Capitalism 4.0 set out a named thesis for how the system reorganised itself after 2008, and the argument has aged into the framework through which many boards now read central bank behaviour.
- He sits inside the reform of economics itself. As founding chairman of the Institute for New Economic Thinking, set up with George Soros to rebuild the discipline after 2008, he has direct access to the researchers redefining how policymakers think.
- Thirty years as Economics Editor and Editor-at-Large of The Times, and as a columnist for Reuters, the International New York Times and Project Syndicate, give him a rare ability to translate macro complexity into arguments a management team can act on.
Biography highlights
- Co-founder, chairman and chief economist of Gavekal, an independent research and investment firm serving more than 800 financial institutions.
- Founding chairman of the Institute for New Economic Thinking, established with George Soros in the wake of the 2008 financial crisis.
- Author of Capitalism 4.0: The Birth of a New Economy in the Aftermath of Crisis, nominated for the Samuel Johnson Prize.
- Columnist for Reuters, the International New York Times, Project Syndicate and Prospect, after a thirty-year career at The Economist, the Financial Times and The Times, where he was Economics Editor and Editor-at-Large.
- Twice named Specialist Writer of the Year at the British Press Awards, and named Newspaper Commentator of the Year, Economic Journalist of the Year and European Journalist of the Year.
- First Class Honours in Mathematics from King’s College, Cambridge, and a Kennedy Memorial Scholar at Harvard, where he took a Master’s in Economics.
Biography
The global economy has not returned to a normal cycle since 2008. Successive shocks, from the financial crisis to the pandemic to the rewiring of trade blocs, have left boards and investors trying to plan inside a macro regime whose rules they did not agree to. Kaletsky’s work is an attempt to name that regime.
In Capitalism 4.0, he argued that the post-crisis system is a new stage in the evolution of market economies, one in which governments and central banks play a larger and more explicit role, and that treating the period since 2008 as a set of anomalies is what keeps leaders wrong-footed. The thesis gave boards and policymakers a vocabulary for what they were already seeing.
That argument is backed by an unusual combination. Through Gavekal, the research and investment firm he co-founded, his analysis is priced in by more than 800 banks, asset managers and corporates. Through the Institute for New Economic Thinking, which he chaired from its founding with George Soros, he works with the economists rebuilding the discipline’s foundations. Through three decades at The Times, the Financial Times and The Economist, and ongoing columns for Reuters, the International New York Times and Project Syndicate, he has learned how to explain monetary policy and geopolitics without losing either the numbers or the reader.
For a board trying to decide what to assume about inflation, Chinese growth, the dollar or the direction of American policy, his value is that he has already had to answer the same question for institutional clients who are putting real capital behind it.
Key speaking topics
- Global macro-economics and financial markets
- Central bank policy and the future of monetary regimes
- Capitalism 4.0 and the evolution of market economies after 2008
- Geopolitics, trade blocs and the global economic order
- China, the United States and the shape of the next decade
- Political risk and the interaction of policy with markets
Ideal for
- Boards and executive committees setting medium-term capital allocation and geographic strategy
- Chief investment officers, CFOs and treasurers calibrating exposure to policy and macro risk
- Institutional investor conferences and client events that need a named macro thesis, not a market update
Audience outcomes
- A clearer reading of why the post-2008 macro regime behaves differently, and what that means for planning assumptions
- A framework for interpreting central bank decisions as part of a longer structural shift, not one-off interventions
- A sharper view of how US-China rivalry, European policy and emerging market dynamics interact in capital flows
- Specific, argued positions on inflation, interest rates and asset prices, rather than a survey of consensus forecasts