The Editorial Board at Issues
& Insights weighed in on the recently concluded World Economic Forum in
Davos. The title of the editorial, “The Devils of Davos,”
is not hyperbole. Here’s Klaus Schwab’s shameless statement and a blogger response:
- “When it comes to business and economic
activities, Davos is not a place for narrow self-interest,” WEF chairman and
founder Klaus Schwab said. “It is instead a place for the implementation of the
notion of stakeholder capitalism, a concept I’m fighting for since 50 years.”
“‘Stakeholder capitalism’ is an
oxymoron, and it is a synonym for
fascism,” writes ‘Streetwise Professor’.
“‘Stakeholder capitalism’ has no
limiting principle. It can be used to claim control over anything anywhere
anytime … It is a synonym for fascism because it is a variant on corporatism,
which is the essence of the fascist economic model.”
More interesting quotes and comments at Issues & Insights are here. And “Streetwise Professor” further elaborates:
'Stakeholder capitalism’ is an oxymoron, because
capitalism means that the owners of capital make the decisions on how it is
used. Marxists have never liked the way that capitalists used it, which is why
they wanted to expropriate it. At least they were honest, and didn’t say they
were advocating “socialized capitalism.” “Stakeholder capitalism” means that
those who don’t own something can nonetheless dictate how to use it, because
they have some self-asserted “stake” in it. Using the word “capitalism” is a
clever trick to seduce non-Marxists into believing that what Schwab et al are
advocating is just a kinder, gentler version of a free market economy, when in
fact their agenda is profoundly anti-capitalism and anti-freedom.
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