"The transition from mixed economies under social democracies to neoliberal capitalism has led to a notable increase of wealth concentration at the top, which is now eroding (and in some places even destroying) our democracies. The absence of a sustained discussion of neoliberal capitalism in elite circles is illogical, since it is the main cause of the other problems that will be discussed at Davos."
"Experts were asked to pick from a provided list the risks that they consider to be the biggest for the world. Geo-economic confrontation, misinformation and disinformation and social polarisation are regarded as the top three risks for the next two years. Over a period of 10 years, the top three are extreme weather conditions, biodiversity loss and ecosystems collapse and critical changes to Earth systems. Inequality in income and wealth comes in seventh place."
Neoliberal capitalism, dominant since the late 1970s, adds privatization, a shift of power from workers to capital owners, and reduced taxes on entrepreneurs and the richest to general capitalist features. The transition from mixed economies under social democracies produced significant top-end wealth concentration that now erodes and in some places destroys democratic institutions. Elite forums such as the World Economic Forum convene leaders to address major risks but routinely avoid sustained discussion of neoliberal capitalism despite its causal role. Experts identified geo-economic confrontation, misinformation and social polarisation as top near-term risks; extreme weather, biodiversity loss and ecosystem collapse top long-term risks, while inequality ranks seventh but connects many risks.
Read at www.theguardian.com
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