January 24th, 2012
11:46 AM GMT
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Davos, Switzerland (CNN) – For more than forty years, Klaus Schwab has been inviting elites to the Davos mountains. Now he admits things are "very difficult."

On Monday, Klaus Schwab, the World Economic Forum’s founder and executive director, told me he was disappointed with the progress made by leaders during 2011. He had been "hopeful that the economy would grow again. That is not the case." Schwab admitted he was "irritated by an increasing lack of willingness to deal with global issues."

Klaus Schwab is not a man noted for hyperbole or exaggeration. So when he told me of his worries about a "bunker mentality" or "burnout" in voters who "cannot cope anymore," then it’s probably time to worry.

The reason this is so worrying is that there are still so many problems to be solved. Some, like Greece, are in danger of getting worse. There is still no solution, and the politicians are miles away from agreeing on the future direction for the euro crisis.

With elections in the US and France, the opportunity to make serious progress must be viewed as limited. The temptation will be to go for the popular vote, which may well mean putting off the nastiest decisions.

Most surprisingly, Schwab said capitalism was “outdated.” “Capitalism was born when capital was the most important resource. Today, it is talent that is most important." Thankfully for the bankers coming here, he still believes in a market economy.



soundoff (14 Responses)
  1. power4things

    Sure he's disappointed, these Davos guys haven't gotten near as rich as they planned.

    January 24, 2012 at 2:23 pm |
  2. Josia Nakash

    Richard – I'm so happy you are there asking all the right questions .... :)

    Klaus – here is a constructive point of view:

    1) Long term vision – the time has come to stop filling our heads with rubbish, the result of that can be seen in the escalating issues all around us. We need to all grow up and start living responsibly. We need to start filling our hearts and minds with much more useful information that will benefit all of us together.

    2) Values – we have to get the media to start promoting a completely fresh value system – a sustainable value system. The value system of self-worship has brought us to the brink of destruction.

    3) We need to go through a new global education together and as soon as possible. Millions will be unemployed in the near future in every country and we have to occupy those people with a new kind of "work" or "training" (studying the new integral world) that they will be compensated for.

    I'm available at any time to provide you with more details ....

    January 24, 2012 at 7:32 pm |
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