On 22 November 2011, the Rafael del Pino Foundation hosted the Master Conference "Entrepreneurship and Innovation in the New Economy", delivered by Dipak C. Jain, Dean of INSEAD.
Dipak C. Jain defined his vision of the 'new economy': "What I call the 'new economy' is based on social interactions. Power is under the control of the individual. The information-based economy has been with us for a long time. Today, that information is available to everyone. Users have access to it and can interact with it, creating a huge economic and social impact. This new economy can help to identify the causes of the various crises we are experiencing and also help to achieve greater personal commitment from those who can help to solve some of these crises.
Dipak C. Jain argued that power is shifting towards the individual: "We have seen how a single person can create a tsunami; we need to be aware of the existence of individual power, as opposed to power concentrated only in the hands of a minority. I am very optimistic about this new concept of economy, the new generations and the new wave of optimism that we need to support and nurture to make this world a better place for all, relying on social relations and interaction.