World Economic Nonsense

The World Economic Forum has organized another meeting in Davos, and the noise coming out of that club this year was even more bizarre than it used to be. We had the CEO of Pfizer talking about implants that can administer medicine to people based on algorithms and remote decision making. We had an Australian politician suggesting that we redefine what freedom means. We had banking CEOs promoting the virtues of a cashless society.

None of this was very economic in any classical sense of the word. The vision promoted is feudal, with a small group of people administering the resources of the world, while the rest live as serfs. The economy would be run by a system of taxation and subsidies, with no-one free to make any decisions for themselves.

However, such a system cannot possibly work. We all make decisions for ourselves, and we do it all the time. Freedom is not merely a moral belief system, it's the only workable solution to anything. If every action required permission, we would never do anything, so there has to be some degree of freedom for there to be any activity.

People will figure out that the elite requires agents, and that these agents are largely autonomous. They may not legally own the resources that they administrate for the elite, but they control them. Hence, they can act as if they are the owners.

People will see that certain possessions are taxed more than others, and that some possessions aren't taxed at all. Gold and silver coins will come into vogue in a cashless society.

Freedom cannot be redefined any more than gravity can be redefined. It's a stupid idea that only serves to expose promoters as ignorant and evil. Medical implants are equally idiotic.

The most stunning aspect of the display was the hubris with which the speakers have talked. They seem unaware of the level of contempt that they are under. The health minister in Norway posted on Facebook that she wanted to give total control of health issues to the WHO. The reactions were mostly angry faces and laughs. Only a tiny minority liked the idea.

The elite is either clueless or desperate at this point. If they don't soon step back from their nonsense, something is likely to snap.

Klaus Schwab

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