Davos Diary of Anthony Scaramucci, Alternative Investment Manager, SkyBridge Capital

This year’s World Economic Forum Annual Meeting kicked off with a much more optimistic feel than the last, which took place during the continuing deep uncertainty of the credit crisis. But that is not saying much. The mood remains dark, as reflected in the conference’s overarching themes so far.

The talk has been all about how to heal the financial crisis in the West, address the issue of systemic market risk, the low-to-no economic growth, continuing high unemployment figures and, in general, a discontent with the current political environment.

Still, maybe there is some good news in all of these sober views from world leaders, bankers, industry leaders and the like. As one speaker noted "typically the consensus here is wrong, so for this, there is a reason to be optimistic and most of the speakers are dour."

I’m an optimist. And for me, the important takeaways from day one had to do not so much with our imminent economic predicament, but the long-term future. Where we want the world to be, what kind of planet we want to live in and to leave and how to balance wealth and happiness.

In his opening remarks Klaus Schwab, Founder and Executive Chairman, World Economic Forum, reminded us “the moral reformation – not only of business but of society at large – cannot result from just the revival of fundamental principles such as solidarity or modesty. What we really need is to reflect on how we want the world to be in 10, 20 and 30 years.”

From attending the session “Rebuilding Economics” with George Soros, Richard Thaler, Niall Ferguson, I learned about how difficult it is for economics to make order out of the disorder of human economic action. Economics is an inexact science. Yet we will continue to tinker with it in the hopes of it getting right someday.

I also spoke Wednesday on a panel, “The Economics of Happiness,” alongside such luminaries as Nariman Behravesh, Chief Economist, IHS Global Insight, and Reinhard Marx, Archbishop of Munich and Freising, Germany.

These were some of my takeaways: We are really at the start of a new era in biological and energy technologies that will unleash incredible improvements in the quality of our lives. These innovations will also be better for our planet. And yet, our overconsumption and underproduction imbalance isn't about to end any time soon. The consequence of this is likely to be ongoing political unrest.

Finally, I truly believe that our happiness, while driven in some part by our wealth and financial stability, is in fact more driven by our relationships with others. Less envy, alongside more real charity and kindness, leads to more personal happiness.

This is a lesson America and, in particular, the hedge fund industry has been learning the hard way over recent years. However, it is a lesson that is impossible to escape as we witness the devastation in Haiti. One clear message – the U.S. is suffering sustainable unemployment stagnation, yet we still need to lift up the less fortunate. Finding ways to do this is what Davos is all about.