https://www.weforum.org/great-reset/As we enter a unique window of opportunity to shape the recovery, this initiative will offer insights to help inform all those determining the future state of global relations, the direction of national economies, the priorities of societies, the nature of business models and the management of a global commons. Drawing from the vision and vast expertise of the leaders engaged across the Forum’s communities, the Great Reset initiative has a set of dimensions to build a new social contract that honours the dignity of every human being.
Why capitalism needs to be reset in 2020 | FT (Dec 2019)
May 31, 2017,08:57am EDT
Brace Yourself For 'The Great Reset'
We are coming to a period I call “the Great Reset.”
As it hits, we will have to deal with the largest twin bubbles in the history of the world. One of those bubbles is global debt, especially government debt. The other is the even larger bubble of government promises.
These promises add up to hundreds of trillions of dollars. That’s vastly larger than global GDP.
These are real problems we must face. It will mean forging a new social contract. It will also require changes to taxes and the economy. I believe that within the next 5–10 years, we have to end the debt and government promises.
What I mean by government promises are pensions and healthcare benefits. Governments assumed that taxes would cover their immediate costs. They thought future politicians would figure out the rest. Now the time is nearing when those “future politicians” are elected.
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