World Economic Meltdown: Taking Responsibility

I’m doubtful of the ability of major banks and corporations to change their spots, and I blogged back in December about hypocrisy in these troubled times. 

However, I did like the directness of Klaus Schwab’s opening to the World Economic Forum this week: it’s sense of urgency and its desire for action. Perhaps this crisis might force a re-assessment of some of the way our core institutions are run and make us look at education in a different way. His speech opens:

Today, people from every corner of the globe ask how it was possible that decisions could be taken, led by greed or incompetence and with no effective oversight – decisions that had terrible consequences, not only for the global economy but also for real people, who have lost their pensions, their homes or their jobs. They feel bewildered, confused, scared and angry. They may not understand what went wrong but they are clear that their leaders have let them down. They now look to those leaders – corporate, political and societal – not only to say sorry but to repair the damage to their families and communities. Gathered here are many of the world’s most influential leaders. We cannot sidestep our responsibility to work together to rebuild shattered economies and institutions.

You can read the whole speech HERE

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