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