Skip to main content

World Economic Forum ideas 'myopic', are driven by a fraudulent economic system

Klaus Schwab 
By Bhabani Shankar Nayak*
The pandemic has shaken up the neoliberalism as an economic project of capitalism. The economic architecture of neoliberalism based on austerity, liberalisation, privatisation, and globalisation has failed to provide basic dignity of life in terms of basic health, education, home and food security.
The rise of unemployment, hunger and homeless are the direct products of neoliberal economic policies followed by the states and governments around the world. The neoliberal capitalist reincarnations have failed to provide dignity even to the growing number of dead bodies in the disposable bags as a result of the Covid-19.
The master of neoliberal prophesies and their prophets like Klaus Schwab, founder and executive chairman of the World Economic Forum, argues for reevaluating the global economic system based on neoliberal ideology of free market fundamentalism, which led to the emergence of global corporate monopolies at the cost of eroded workers’ rights and economic securities of people.
Such criminal confessions from the shibboleths of neoliberal architecture of capitalist classes are part of the strategy to revive the legitimacy of a criminal economic and political system that took away dignity from human life and destroyed the planet in search of profit.
It has destabilised countries and pushed regions into war and conflicts in the name of spreading free market democracy; the other name of neo-colonialism, which manufactures inequalities in a global scale.
Schwab argues for sustainable development and green business for economic recovery for launching the ‘fourth industrial revolution’ with the help of technology and digitalisation and ensure our collective commitment to capitalism.
He further argues that social progress is the results of capitalist entrepreneurship, efficient allocation of resources by the market forces and risk-taking abilities of the capitalists. These arguments are not only factually incorrect but also based on myopia driven by an ideology of fraudulent economic system called capitalism. There is not an iota of truth in it.
The contradictory ideas of Schwab are not based on his ignorance or lack of knowledge. It is based on a long tradition of capitalist propaganda and its diversionary strategies. Deception is a crime but innate to capitalism as an economic, political, social and cultural system.
Capitalism produces social miseries, economic alienation and political marginalisation, which destroys all forms of social progress based on science and technology by forming alliance with reactionary religious and authoritarian forces.
Democratic deficit is part of the neoliberal free market economy that destroys the abilities of states and governments to pursue social and economic welfare of its citizens. His concerns for climate change and green economy is dubious as capitalism grows by destroying environment and exploiting people.
Therefore, human dignity, freedom, democracy and sustainable development is not concomitant with capitalism as an ideology of exploitation. The new kind of capitalism with human and green face is another propaganda to hide the inhuman character of capitalism in all its forms. The pragmatic steps of capitalism are in the dead end. Capitalism can never be resilient, cohesive and sustainable.
The World Economic Forum has designed set of “Stakeholder Capitalism Metrics” during its 2020 annual meeting in Davos. The core of these values is based on environmental and social governance. Governance indicates transparency, accountability and rule of law. The rule of law is designed by the ruling classes and make it compatible with the requirements of the capitalist classes.
Neoliberal economic policies and its austerity projects are dead but its political infrastructure is very much alive and thriving
Accountability and transparency are twin dangers to capitalism. Therefore, capitalism does not engage with any system that is accountable and transparent. But unfortunately, the entire model of neoliberal governance is designed to protect the shareholders of capitalism.
It is neither accountable to labour and environment that produces profit for capitalism. Sustainable values are an anathema to capitalism. It destroys everything that is sustainable.
The profit under capitalism is not based on creative destruction. It is based on absolute annihilation of all creative abilities if labour and nature. It requires repetitive labour, which works in compliance based regulatory regime. The dead capital is free but labour with life in bondages. It treats labour and nature as commodities.
The neoliberal economic policies and its austerity projects are dead but neoliberal political infrastructure is very much alive and thriving. The authoritarian and right-wing political regimes are growing and giving breathing space to capitalism at the cost of lives and environment.
Therefore, any form of economic reimagination of economic alternative needs to reimagine the political system. The alternative political economy in the post pandemic world needs to focus on the conditions of production, distribution and exchange relationships. The market can be based on the direct relationship between producers and consumers with the help of information technology. 
The fourth industrial revolution and its economic system need to follow the models of workers cooperatives based on human needs and desires concomitant with environmental sustainability. These principles are fundamental to the ‘Great Rest’ the post pandemic economy, politics and society.
The shared progress, peace, prosperity, human health and dignity and environmental sustainability depends on human abilities to overthrow capitalism and its rotten system. The survival of planet, people and prosperity depends on forward march humanity towards the ideals of equality, liberty, justice, fraternity in a world free from all forms of exploitation.
---
*Coventry University, UK

Comments

Unknown said…
Great article,minus a number of repeated grammar and typo issues that are distracting (ie wrong use of definite articles in front of uncountable nouns; typos, including "Great Rest" at the very end). That aside...

It dawned on me today that it's no coincidence, the way the WEF tested the "Great Reset" messaging in 2016, and then recently doubled down on it despite the expected overwhelmingly negative response it received. They're purposely tying an immensely unpopular and understandably scary Big Brother-esque message to socialism, as a way of indirectly countering growing calls for social reform rooted in the rising popularity of democratic socialist ideas. This nuanced propaganda technique represents a refined continuation of the usual deceptive neoliberal ideological rhetoric. These elites are extremely astute!

TRENDING

Buddhist shrines were 'massively destroyed' by Brahmanical rulers: Historian DN Jha

Nalanda mahavihara By Our Representative Prominent historian DN Jha, an expert in India's ancient and medieval past, in his new book , "Against the Grain: Notes on Identity, Intolerance and History", in a sharp critique of "Hindutva ideologues", who look at the ancient period of Indian history as "a golden age marked by social harmony, devoid of any religious violence", has said, "Demolition and desecration of rival religious establishments, and the appropriation of their idols, was not uncommon in India before the advent of Islam".

World Bank proved right, Narmada is already a destructive project: Medha Patkar

By Rajiv Shah  Narmada Bachao Andolan leader Medha Patkar has said that the World Bank’s independent review mission, which brought out the Morse Commission report , has been proved right: The Sardar Sarovar dam has not only failed to live up to the loud promises made for irrigating large arid areas of Saurashtra and Kutch in Gujarat, those who were displaced and resettled in Gujarat are getting increasingly restive as many of them are unable to get the promised water for irrigation and some for drinking water too. While 50,000 families have been resettled in three states and 20,000 have received land rights as land or cash, the authorities have not calculated what should be done with 15,000 families, whose houses are acquired for Sardar Sarovar but following changing backwater levels of the Sardar Sarovar dam, they are denied rehabilitation, Patkar tells Counterview in an interview (part1*): *** Q: What is the latest position in your view as far as the Sardar Sarovar dam is concerned?

Upholding labour rights, Nehruvian scientific temper, Rajni Patel opposed Emergency

By Harsh Thakor*  Rajni Patel, who died 40 years ago, whatever his flaws, had one great quality: his human touch to offer selfless service and ability to galvanise or influence human beings from all walks of life. Few people would ever go out of the way to help someone or serve as selflessly without aim of personal gain. Rajni championed Nehruvian secular ideas and scientific temper. As a master in public relations he revealed utmost humility. As a barrister, he never appeared against the trade unions or workers. A Fabien Socialist he opposed liberal capitalism and radical socialism. Unlike most lawyers, he did not succumb to the lure of amassing wealth. Rajni was born in Sirsa, in Gujarat, on the very day Gandhi set foot on Indian soil, on 9th January, 1915. He gained his baptism through one of Gandhi's speeches calling for the boycott of foreign goods, which was the virtual turning point of his life. Rajni toed Gandhi to organise boycott of foreign goods. Rajni was able to cros

Vadodara violence: Fine Arts Faculty alumni raise fingers at Varsity's political appointee

Hasmukh Vaghela with PM Counterview Desk  In a statement, alumni of the Faculty of Fine Arts (FoFA), Maharaja Sayajirao University (MSU), Baroda, Gujarat, referring to the “violence” by right-wing groups for displaying “objectionable” paintings that “hurt religious sentiments” at the one of India’s top fine arts institute May 5, have taken strong exception to “the assault and rustication” of one of the students, and lack of action taken against those who “violated” the institution and committed the act. Floated as an online petition seeking wider support, the FoFA alumni, in their statement, addressed to the vice chancellor, MSU, said, there should be “thorough” investigation in the whole incident and “immediate action” should be taken against syndicate member Hasmukh Vaghela, MSU, who sparked the assault, and “other co-conspirators” for breaching “university code of conduct and unlawful activities committed in broad daylight”. While the alumni statement doesn't say so, Vaghela

Swami Vivekananda's views on caste and sexuality were 'painfully' regressive

By Bhaskar Sur* Swami Vivekananda now belongs more to the modern Hindu mythology than reality. It makes a daunting job to discover the real human being who knew unemployment, humiliation of losing a teaching job for 'incompetence', longed in vain for the bliss of a happy conjugal life only to suffer the consequent frustration.

UK leader cites Indian farmers' struggle one of top global fights against neoliberal order

Counterview Desk  Jeremy Corbyn, member of the UK Parliament, former leader of the UK Labour Party and founder of the  Peace and Justice Project , in his  inaugural speech to the  Progressive International’s  Summit at the End of the World on May 12, 2022, has said, what is happening across globe suggests that "image of apocalypse -- bombs and raids, oil spills and wildfires, disease and contagion -- is a reality for people across the planet." In an adaptation of his speech, distributed by  Globetrotter , Corbyn, however, said, there are fresh examples action, too -- by Indian farmers forcing Prime Minister Narendra Modi to withdraw three neo-liberal laws;  by workers, communities and activists against the top giant multinational Amazon's "greed and exploitation"; and by Latin American people's struggle to say "no more to the domination by imperialism, the destruction of their communities and the abuse of their environments." Stating that this is n

Welfare? Govt of India spends just 19% of manual scavengers' rehabilitation budget

By Bharat Dogra*  While the Dalit community has been always known for higher levels of poverty as well as social discrimination, even within the Dalits there is a sub-section known for even worse levels of poverty as well as social discrimination. This is the section which was traditionally involved in manual scavenging. The shocking injustice they have suffered from over the years has been widely recognized leading to a ban on manual scavenging. At the same time there is urgent need for the rehabilitation of those engaged in manual scavenging. Hence a self-employment scheme for the rehabilitation of those engaged in manual scavenging was drawn up. The allocations and the expenditure for this scheme for the last eight years are shown in the Table below: Union Budget for Self-Employment Scheme for Rehabilitation of  Manual Scavengers (in Rs crore) By Budget Estimate we mean the original allocation made when the budget is presented. It is clear from this table that the actual expenditure

This Maoist justified US, western Europe's anti-Soviet stance, even Bhindranwale

By Harsh Thakor*  A glaring example of the extent to which those seeking to identify themselves as revolutionaries can go in making odd compromises with those normally considered as “class enemies” in Marxist jargon is late Kondapalli Seetharamiah. Few know that this Maoist organiser two decades ago was so enamoured by the Chinese three worlds theory that he called for a united front with the United States and other western countries against what he considered Soviet social imperialism! This wasn’t the only “compromise” Seetharamiah made during his career as a revolutionary. On Punjab he took a most eclectical stand of supporting Jarnail Singh Bhindranwale, thus soft-pedalling the terrorist Khalistani movement. Among his other opportunist alliances, about which few are aware of, include support to the Akalis in Punjab, on one hand, and the NTR Telugu Desam regime in Andhra Pradesh, on the other – all part of his anti-Congress thrust. Also known as KS, this Maoist started his career as

Why is NIOH-ICMR 'official' making false claims on silicosis?: Health rights NGO

Counterview Desk In a letter to the Director General, Indian Council of Medical Research (ICMR), New Delhi, Dr Jagdish Parikh, trustee, health rights NGO People’s Training and Research Centre (PTRC), Vadodara, and Jagdish Patel, director, PTRC, have said that the claim being made for the use of biomarker for detection of silicosis raises concern about scientific tenacity of the diagnosis of the deadly occupational disease. The letter also objects to the reported claim by a top health official that it is possible to detect silicosis at the sub-radiological stage. It asks, “What is this subradiological stage of silicosis? We have not heard any such scientific term being used. Again, the report is using a term which is not found in any scientific literature so far. Is this term acceptable by ICMR? Is ICMR thinking of any explanation?” Text : This is with reference to our letter dated November 28, 2021. In our communication we had raised our concern about the scientific tena

Custodial death of Muslim youth: Govt of India told to ratify UN convention on torture

Counterview Desk  Kirity Roy, secretary, Banglar Manabadhikar Suraksha Mancha (MASUM), and national convenor, Programme Against Custodial Torture & Impunity (PACTI), Hooghly, West Bengal, in a representation to the chairman, National Human Rights Commission (NHRC), has drawn to the custodial death of a Muslim youth following his torture in police custody after registering a "false case" based on manufactured records. Seeking "proper investigation" the whole incident, Roy in his plea insists, the incident legitimizes his organisations' long-standing demand "for immediate ratification of the United Nations Convention against Torture and Other Cruel, Inhuman or Degrading Treatment and Punishment." Text : Here I want to draw your kind attention to one incident of custodial torture by the Deganga police personnel and the subsequent custodial death of one Muslim man from the Other Backward Class community in Dum Dum Central Correctional Home. The name o