The World Economic Forum’s (WEF’s) annual jamboree in the Swiss ski resort of Davos always presents a depressing spectacle. The business hosts who pay for the thing are drawn from the biggest companies. Top-flight central bankers, international financiers, media bosses and institutional investors from around the world join them. Drop-in politicians in 2018 include leaders from the Group of Seven countries, Latin American and Asian emerging economies and even the once-shunned small states of the global South. Despite a few trade unionists, charity bosses and "ethical business" gurus, this meeting is between money and political power, showcasing the WEF’s general mission of "improving the state of the world". Davos offers some valuable reminders of important truths. Multinationals, international banks and institutional investors act quietly but they are the most powerful actors in global affairs. The inane reflections of almost all Davos participants confirm a second unwelcome fact: t...

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