The Davos meet: a shift towards welfare of the society

Once again the rich and the powerful gathered in Davos, Switzerland to ask questions on the digital divide and the economic divide in the world. This year?s Davos extravaganza indicated a certain shift from such previous annual events. For one, there was no high level representation from the US government, perhaps because the new administration is still in the process of settling down. The protestors, who have now become a part of the scene in such meetings, were conspicuous by their presence but so was the Swiss Police, who ensured that the protestors and demonstrators did not get close enough to the venue of the meeting to disrupt the proceedings. The cold weather in Davos and freezing water in high-pressure hoses came to the help of the police. The Davos jamboree is a place where the rich and mighty rub shoulders annually, and where deals are cut and acquaintances made for the good of global business. This time, however, there was a subtle shift, with a discussion taking place on global poverty. Also, perhaps for the first time several important officials, mainly from the developing world, raised pertinent questions about the directions and impacts of globalization. This included an eloquent address by India?s Finance Minister, Mr Yashwant Sinha, on the question of globalization serving the interests essentially of only a few countries. The Davos meeting is generally focussed on a time horizon not extending beyond the next quarter. Economic issues have been seen only through the prism of business interests. In the process, much longer terms and larger questions involving the welfare of society as a whole have been ignored. It appears that there is a wind of change that motivated the participants this year to at least refer to larger societal issues. If this is the direction that the Davos meeting is likely to follow in the future, should the same cast of characters deal with these issues or are we talking about a different version of Davos, perhaps in a less pretentious location?