This year's World Economic Forum, which meets at Davos, Switzerland each year, adjourned with calls for more "social responsibility" and less pure capitalism. Sessions on "remodeling capitalism," "fixing capitalism," and the virtues of the "Chinese model" for state capitalism figured prominently on the program, and participants were not shy about pointing out the supposed failings of the free market. With Timothy Geithner representing the United States and European leaders seeking a convenient scapegoat for their failed policymaking, it's no wonder that capitalism found so few defenders. Even the founder of the Davos forum, Klaus Schwab, couldn't resist going after capitalism. "Capitalism, in its current form, no longer fits the world around us," he stated flatly. Calling for "a more holistic, inclusive, and qualitative approach" to development, Schwab argued against those who seek economic growth as an end in itself and in favor of a more nuanced, managed model of development that takes into account multicultural and multiethnic communities. For businesses, he stated, the model requires an approach "based on a....
(Read Full Article)
Print
COMMENTS ON AMERICANTHINKER