Friday, February 6, 2009

Fear and loathing in Davos

Click on cartoon by Khalil Bendib to enlarge.
By Joseph Stiglitz, Friday 6 February 2009

"For 15 years, I have attended the World Economic Forum in Davos. Typically, the leaders gathered there share their optimism about how globalisation, technology and markets are transforming the world for the better. Even during the recession of 2001, those assembled in Davos believed that the downturn would be short-lived.

But this time, as business leaders shared their experiences, one could almost feel the clouds darkening....."

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