Font size: Font face:

This is WND printer-friendly version of the article which follows.
To view this item online, visit http://www.wnd.com/2012/01/davos-elites-seek-reforms-of-outdated-capitalism/

THE NEW WORLD DISORDER

Davos elites seek reforms of 'outdated' capitalism

'Era of profound change urgently requires new ways of thinking'

Economic and political elites meeting this week at the Swiss resort of Davos will be asked to urgently find ways to reform a capitalist system that has been described as “outdated and crumbling.”

“We have a general morality gap, we are over-leveraged, we have neglected to invest in the future, we have undermined social coherence, and we are in danger of completely losing the confidence of future generations,” said Klaus Schwab, host and founder of the annual World Economic Forum.

“Solving problems in the context of outdated and crumbling models will only dig us deeper into the hole.

“We are in an era of profound change that urgently requires new ways of thinking instead of more business-as-usual,” the 73-year-old said, adding that “capitalism in its current form, has no place in the world around us.”

© Copyright 1997-2013. All Rights Reserved. WND.com.