Summary of We need a new narrative for globalization

Looking for the article?
We have the summary! Get the key insights in just 5 minutes.

We need a new narrative for globalization summary
Start getting smarter:
or see our plans


8 Overall

9 Importance

7 Innovation

8 Style


Market-driven global capitalism is certainly not perfect, but getting rid of it altogether would be like throwing the baby out with the bathwater. So says the World Economic Forum’s Klaus Schwab, who makes the case that globalization is here to stay but could do with a renovation. He posits that the issue is not in the market system itself but in its single-minded practice, which leaves people feeling spiritually empty. Judiciously harnessing the opportunities of innovation in the fourth industrial revolution could help individuals meet their material as well as social needs. getAbstract recommends this thought-provoking analysis to policy makers and others looking forward to a better future.

In this summary, you will learn

  • Why globalization is here to stay,
  • What is lacking in today’s market-driven capitalistic system, and
  • How to move globalization and market capitalism forward for the benefit of all human beings. 

About the Author

Klaus Schwab is the executive chairman of the World Economic Forum. 



Since the 1980s, neoliberal economic policies have helped better the lot of billions of people worldwide. But global economic growth is now floundering, and social and environmental problems are emerging. Neoliberalism no longer serves a useful purpose in its current form.

Economic thinking evolved to emphasize the “optimization of the system” exclusively, instead of the empowerment of individuals. Such “market extremism” misses the point that people aspire to more than material satisfaction in their lives. They have social and...

More on this topic

By the same author

The Global Competitiveness Report 2017–2018
The Global Competitiveness Report 2016–2017
The Global Competitiveness Report 2015–2016

Customers who read this summary also read

Rescuing Economics from Neoliberalism
Utopia for Realists
The Global Risks Report 2017
The New Economic Context for the Arab World
The Death of Homo Economicus
Advancing Human-Centred Economic Progress in the Fourth Industrial Revolution

Related Channels

Comment on this summary