Klaus Schwab, the Executive Chairman of the World Economic Forum (WEF), has laid out his vision for consolidating state and corporate power. Schwab’s speech at the Association of Southeast Asian Nations (ASEAN) Summit. summit emphasized the imperative of government leaders cooperating with the WEF to remain influential in the evolving global landscape. He asserted that this merging of the WEF with state institutions would mark a shift from the “era of capitalism” to the “era of talentism.”

Under Schwab’s proposed system, corporate elites would play a pivotal role in shaping policies for sovereign nations, with a primary focus on fostering innovation as the key competitive factor. However, his influence over democratically elected officials has raised questions about the authority of an unelected leader like Schwab dictating policy.

Schwab’s global agenda, referred to as the “Great Reset,” was discussed not only at the WEF summit but also at the 2022 ASEAN Summit and the G20-linked Business 20 Summit (B20) in Bali. He boldly proclaimed that the world would undergo a transformation under his leadership, describing it as a necessary “systemic and structural restructuring.” According to Schwab, the future lies in what he calls “stakeholder capitalism,” a system where companies prioritize long-term value creation over short-term profits, while governments collaborate closely with them.

In essence, Schwab’s stakeholder capitalism envisions unelected leaders of for-profit corporations exerting significant influence over society. This vision has far-reaching implications for the balance of power between governments and corporations.

Klaus Schwab, born in Germany in 1938, is the Founder and Executive Chairman of the World Economic Forum. His upbringing and education were marked by a mix of experiences in Germany and Switzerland. He holds degrees in mechanical engineering, economics, and public administration, with a notable mentorship under Henry Kissinger during his time at Harvard University.

Throughout his career, Schwab has been affiliated with the University of Geneva, where he served as a professor of business policy and later became an honorary professor. Alongside his wife Hilde, he established the Schwab Foundation for Social Entrepreneurship in 1998.

The World Economic Forum, founded by Klaus Schwab in 1971, is an influential international organization based in Switzerland. It primarily operates as a platform for engagement between multinational corporations, governments, and various societal leaders to shape global agendas. The annual meeting in Davos is its most recognized event, bringing together influential individuals from diverse fields to discuss global issues. The WEF’s initiatives, including the “Great Reset” and “Global Redesign,” advocate for a globalized world managed by a coalition of multinational corporations, governments, and civil society organizations.

Criticism has been directed at the WEF over the years, with concerns about corporate influence, transparency, and environmental impact. In response to such criticisms, the Swiss federal government reduced its annual contributions to the WEF in 2021.

It’s worth noting that attending the WEF’s annual meeting comes at a substantial cost, with delegate fees reaching $120,000 in 2022.