Post-Davos depression

Davos

I HAVE 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. Never have I come away more dispirited than I have this year.

The world is plagued by almost intractable problems. Inequality is surging, especially in the advanced economies. 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.