The world’s rich and powerful are heading this week to their annual meeting in the plush mountain resort of Davos, Switzerland. Hosted by the great global corporations (Citigroup, Siemans, Microsoft, Nestlé, etc.), some 2000 CEOs, prominent politicians, pundits and international bureaucrats will network over great food, fine wine, good skiing and cozy evenings by the fire contemplating the world’s future.
This is not a secret cabal; journalists will issue daily reports to the rest of us on the wit and informal charm of our financial betters. Rather, it is like the political convention of those who manage the global economy. Call it the Party of Davos.
All markets are systems of rules that determine what sort of people are winners and what sort are losers. Politics is largely conflict among the different sorts—or classes—over who gets what. In stable societies, a social contract provides for enough wealth to trickle down to keep the lower orders from rebelling. Thus, in the 1950s, when Dwight Eisenhower’s secretary of defense said that what was good for General Motors was good for America, most Americans—including the United Auto Workers—agreed. Within the boundaries of the U.S. economy, capital and labor needed each other.
But as corporations went global, the mutual dependence weakened. And in the absence of global democracy, their owners and top managers seized the opportunity to set the new rules without social constraints. The first head of the World Trade Organization called these new rules a “constitution for the global economy.” It’s a constitution that protects just one world citizen—the corporate investor. It prohibits effective protections for the workers, consumers and the environment.
http://www.tompaine.com/articles/20060127/crashing_davos.php
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