Mohamed El-Erian
Reuters.com
I’ve turned down every invitation I’ve received to the World Economic Forum in Davos, said Mohamed El-Erian, and I always will. I know that for a “global cornucopia of important people,” the annual meeting in the Swiss Alps, which ended this week, is a hot ticket. But I’m convinced this gathering of glitterati is never going to make a difference.
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I’ve asked a number of attendees over the years why “so few, if any,” of the high-level brainstorms among world leaders, CEOs, and movie stars ever translate into real action. They say the forum’s agenda is too broad, and that it may be impossible for real progress to emerge from meetings full of “so much wealth and so many egos.”
But I think the biggest problem is that most attendees simply don’t share the organizers’ higher ambitions. As long as leaders are unwilling to “give up control of their narratives,” collaboration on major global problems will remain impossible. Which is a pity. Davos could be a powerful force for good. But unless it better encourages people to work together, “this prestigious gathering will continue to fall short of its vast potential.”
