Sunday, June 7, 2020

WARNING: The COVID-19 Panic as an Opportunity to "Reset" Capitalism

There is a shocking essay on the front page of the World Economic Forum website.

The World Economic Forum hosts an annual meeting at the end of January in Davos, Switzerland.

Located in the eastern Alps, the meeting brings together some 3,000 business leaders, international political leaders, economists, celebrities and journalists for up to five days to discuss global issues, across 500 public and private sessions.

It is the annual Woodstock for the crony elite.

The founder and executive chairman of the Forum is Klaus Schwab.

The above-mentioned essay, which is titled, Now is the time for a 'great reset,' was written by Schwab.

It is a stunning call to take advantage of the COVID-19 panic to move away, on a global basis, from free-market capitalism toward a planned society designed by the elite

From the essay:
COVID-19 lockdowns may be gradually easing, but anxiety about the world’s social and economic prospects is only intensifying. There is good reason to worry: a sharp economic downturn has already begun, and we could be facing the worst depression since the 1930s. But, while this outcome is likely, it is not unavoidable.

To achieve a better outcome, the world must act jointly and swiftly to revamp all aspects of our societies and economies, from education to social contracts and working conditions. Every country, from the United States to China, must participate, and every industry, from oil and gas to tech, must be transformed. In short, we need a “Great Reset” of capitalism.

The Great Reset agenda would have three main components. The first would steer the market toward fairer outcomes. To this end, governments should improve coordination (for example, in tax, regulatory, and fiscal policy), upgrade trade arrangements, and create the conditions for a “stakeholder economy.” At a time of diminishing tax bases and soaring public debt, governments have a powerful incentive to pursue such action.

Moreover, governments should implement long-overdue reforms that promote more equitable outcomes. Depending on the country, these may include changes to wealth taxes, the withdrawal of fossil-fuel subsidies, and new rules governing intellectual property, trade, and competition.

The second component of a Great Reset agenda would ensure that investments advance shared goals, such as equality and sustainability. Here, the large-scale spending programs that many governments are implementing represent a major opportunity for progress. The European Commission, for one, has unveiled plans for a €750 billion ($826 billion) recovery fund. The US, China, and Japan also have ambitious economic-stimulus plans.

Rather than using these funds, as well as investments from private entities and pension funds, to fill cracks in the old system, we should use them to create a new one that is more resilient, equitable, and sustainable in the long run. This means, for example, building “green” urban infrastructure and creating incentives for industries to improve their track record on environmental, social, and governance (ESG) metrics.

The third and final priority of a Great Reset agenda is to harness the innovations of the Fourth Industrial Revolution to support the public good, especially by addressing health and social challenges.
Consider this post a warning. The power players are going to use the current panic to attempt to push through their agendas of control that will benefit them, personally, but damage the greater economy.

We are part of that greater economy.



  1. I'm not sure whether it is more arrogance or ignorance, but who can, with a straight face, talk about imposing "fairer outcomes," "shared goals," and "the public good" by force, and honestly believe that they're being true to those concepts?

    To answer my own question, perhaps those who look down at their incredibly ignorant and docile flocks are realize that they can get away with it.

  2. Cause the problem..."solve" the problem.