Now is the Time for a 'Great Reset'

Delivering sustainable economic growth
Posted Jun 09, 2020 | World Economic Forum., Klaus Schwab

The COVID-19 lockdowns may be easing, but anxiety about the world’s social and economic prospects is intensifying. A sharp economic downturn has already begun, and the worst depression since the 1930s is likely, but not unavoidable writes Klaus Schwab in his article for the World Economic Forum. To achieve a better outcome, the world must act jointly and swiftly to revamp all aspects of societies and economies, from education to social contracts and working conditions. That will require stronger and more effective governments, though this does not imply an ideological push for bigger ones.

Every country, from the United States to China, must participate, and every industry, from oil and gas to tech, must be transformed. In short, a “Great Reset” of capitalism is needed.


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