It was recently revealed that the 85 richest people now own as much as the poorest half of the world combined. Statements from the World Economic Forum (WEF) in Davos suggest that the arrogance of the economic elite grows as quickly as their wealth.
Last week Davos turned into a global “Parasite Street” as representatives of the increasingly rich economic elite met in a lush Swiss ski resort wrapped in security and media hype. The annual World Economic Forum once again saw a group, consisting predominantly of rich old men, plotting the next steps of global exploitation.
With their newly published Global Risk Report, the WEF readily hand out advice on everything from global poverty to social media. The report provides an interesting insight into the growing arrogance of the economic elite.
According to the WEF, one major ‘risk’ of 2014 is rising economic inequality. A bit of a cocky statement considering the overlap between the richest people in the world and the membership of the WEF. To put it bluntly, it is the 1 % telling the 99 % to be more equal.
Likewise, the report (commissioned by some of the world’s biggest polluters) features a warning about spiralling climate change: “Is it possible that we have already passed a point of no return and that Earth’s atmosphere is tipping rapidly into an inhospitable state?”. Maybe it is even more telling that this warning is put in the same section as the threat of adverse psychological impacts from a possible encounter with alien life forms.
Another main risk this year is supposedly ‘digital wildfires’ spreading panic on social media: “While the benefits of our hyperconnected communication systems are undisputed, they could potentially enable the viral spread of information that is intentionally or unintentionally misleading or provocative.” If nothing else it shows a lot about their view of us – the ‘common’ people – as digital savages that need to be pacified and controlled (unlike multinational businesses…).
It’s hard not to wonder what kind of misinformation and panic they are referring to. The Arab Spring? Or student protests? As we are bombarded with increasing amounts of corporate lies (such as how Unilever creates a bright future for our children) it seems nothing less than extreme for the world’s top businesses to lecture the general population on what to share online.
To me the WEF of 2014 has confirmed one thing: In this age of austerity, where we are all told to tighten our belts, the rich do not only get richer – they also get more arrogant.
Published by WDM.
The more wealth the rich accrue, the greater their arrogance they have the right to accrue more wealth.
At Davos we had Bill Gates, the richest man on the planet, railing against the minimum wage.
We have had the rich squealing at the thought of having to pay in the UK 50p tax.