Bond giant PIMCO CEO Mohamed El-Erian explains why the World Economic Forum at Davos Switzerland accomplishes little.
But most of the Davos devotees I talk to say the problem is more fundamental. They say that many of the attendees who truly matter are not interested in the organizersí higher ambitions, and some are even suspicious of them. In either case, these key players do not want to give up control of their narratives, and they certainly do not wish to delegate any meaningful part of their personal agenda to Davos.
He makes suggestions in that blog post on how Davos could become more productive for elites so that the elites can work together better to run the world. Excited by that?
Will world institutions rise as regulatory agencies created by treaties? Or will central banks create the structures that enable more world regulation? Or might competition within the elites keep world government from fully developing? How's it going to go?