“Pope Francis on Tuesday called on the world’s political and business elite gathered in Davos to use their spirit of entrepreneurship to alleviate crushing global poverty. In a message read out at the opening ceremony of the annual World Economic Forum, Francis said: “Those who have demonstrated their ability to be innovative and for improving the lives of many people by their ingenuity and professional expertise can further contribute by putting their skills at the service of those who are still living in dire poverty.” It is “intolerable” that hunger continues to stalk the world even though “substantial quantities” of food are wasted, the pontiff added. Ahead of the annual meeting of the global elite that ends Saturday, the charity Oxfam issued a report that said inequality had run so out of control, that the 85 richest people on the planet “own the wealth of half the world’s population.”……………………”
The Pope is right in this case of course. But the men and women meeting in Davos, and those groupies who hang around the periphery, sort of like the IMF-World Bank meetings that I used to attend, are also hungry. Their hunger in Davos is not for food, for I know they are well-fed and well-wined and dined (actually overfed and almost certainly over-wined).
I here posted on Davos 2013. Here is an excerpt of that post:
firms no longer aspire merely to train competent managers. They pride
themselves on their ability to select and train leaders for global
roles………. Many of the bankers and politicians caught dozing by the
financial crisis were regulars at Davos. Ordinary folk trust Davos Man
no more than they would a lobbyist for the Worldwide Federation of Weasels……………..”
Also sprach The Economist,
for once not gushing over the sanctimonious potentates, glib bankers,
my fellow economists, and celebrities converging on Davos.
It is where leaders, potentates, economists, banksters, celebrities, self-styled
celebrities, minions, journalists, and groupies converge. I have been always
skeptic of this gathering: it could just be sour grapes. But I have been even more
skeptic, nay hostile, about it these past four or five years.
Some shameless bankers and investment banksters are there pontificating to the financial
media about how the economy should be managed. They who managed their banks and
investment banks into near oblivion and had to get public welfare to save their
fat annual bonuses. Banker-Panhandlers with a sense of entitlement, with an attitude, panhandlers with the
Mother of All Attitudes…..’