Ethics Violations

The Failure of the Davos Elite

  • Why it matters

    Why it matters

    Corporate scandals, such as VW’s Dieselgate, are eroding society’s trust in large corporations and leading to growing support of populist parties and protectionist measures.

  • Facts


    • Volkswagen shocked the world when it admitted in September 2015 to manipulating the emissions of 11 million diesel cars worldwide.
    • Deutsche Bank’s reputation was also tarnished after it was forced to pay billion dollars to settle interest manipulation and improper mortgage dealing charges.
    • Some German citizens feel globalization has made them worse off, costing them their jobs or forcing them to work for less pay.
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General Views Of Davos Ahead Of The World Economic Forum (WEF) 2017
Leading executives, policymakers and politicians will gather in Davos, Switzerland this week for the World Economic Forum. Source: Bloomberg [M]

Starting Tuesday, the global corporate elite will converge at the World Economic Forum in the idyllic Swiss town of Davos to discuss the big issues of the day. This year, the big issues seem to have gotten even bigger. They include the consequences of Brexit, changes in the economy and society brought on by globalization, the political crises in Syria, Ukraine and Turkey, and the ominous rise of global populism.

After a week of talks, these leading politicians and managers of global corporations will leave Davos with the positive feeling of having had productive discussions and making new connections.

But for the rest of us, that isn’t enough.

In the midst of global disorder and turmoil, the world needs corporate leaders with poise; leaders who aren’t afraid to get their hands dirty or to take a stand; leaders who take their employees’ fears of the effects of globalization and digitization seriously; leaders who search for solutions and do not shy away from political debates in the vain hope that governments will somehow fix everything.

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