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I've been attending the World Economic Forum's annual conference in Davos, Switzerland – where the so-called global elite convenes to discuss the world's problems – since 1995 .The world is plagued by almost intractable problems. The digital revolution, despite its potential, also carries serious risks for privacy, security, jobs and democracy – challenges that are compounded by the rising monopoly power of a few American and Chinese data giants, including Facebook and Google. Climate change amounts to an existential threat to the entire global economy as we know it.To be sure, here at Davos, CEOs from around the world begin most of their speeches by affirming the importance of values.Not surprisingly, these economic elites barely grasp the extent to which this system has failed large swaths of the population in Europe and the United States, leaving most households' real incomes stagnant and causing labor's share of income to decline substantially.Not one mentioned the relentless stream of ignorant statements, outright lies and impetuous actions that have eroded the standing of the U.S. president – and thus of the U.S. – in the world.No, the CEOs at Davos were licking their lips at the tax legislation that Trump and congressional Republicans recently pushed through, which will deliver hundreds of billions of dollars to large corporations and the wealthy people who own and run them – people like Trump himself.
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After neoliberalism, progressive capitalism
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