Summary of Klaus Schwab's Stakeholder Capitalism

Everest Media

Description

Please note: This is a companion version & not the original book.
Sample Book Insights:
#1 The world is living a tale of two realities. On the one hand, we have never been as well off as we are today. We live in a time of relative peace and absolute wealth. On the other hand, our world and civil society are plagued by maddening inequality and dangerous unsustainability.
#2 After World War II, Germany was in shambles, and the country needed to start over. The other Axis powers, Italy and Japan, faced similar challenges. The post-war era depended on the choices made by Washington and Moscow.
#3 The United States tried to balance the needs of its economy with those of Europe’s, as it did not want to make the mistakes of the Treaty of Versailles. It helped rebuild European economies and promoted trade.
#4 The work of reconstruction required every resource to be deployed and every human effort to be mobilized. It was a task that the entire society took to heart.

Sujets

• Economic Development
• Economic growth
• Economics
• Development
• Business

Informations

• Publié par: Everest Media LLC
• Date de parution: 30 avril 2022
• Nombre de lectures: 0
• EAN13: 9781669395362
• Langue: English
• Poids de l'ouvrage: 1 Mo

Extrait

Insights on Klaus Schwab's Stakeholder Capitalism
Contents Insights from Chapter 1 Insights from Chapter 2 Insights from Chapter 3
Insights from Chapter 1

#1

The world is living a tale of two realities. On the one hand, we have never been as well off as we are today. We live in a time of relative peace and absolute wealth. On the other hand, our world and civil society are plagued by maddening inequality and dangerous unsustainability.

#2

After World War II, Germany was in shambles, and the country needed to start over. The other Axis powers, Italy and Japan, faced similar challenges. The post-war era depended on the choices made by Washington and Moscow.

#3

The United States tried to balance the needs of its economy with those of Europe’s, as it did not want to make the mistakes of the Treaty of Versailles. It helped rebuild European economies and promoted trade.

#4

The work of reconstruction required every resource to be deployed and every human effort to be mobilized. It was a task that the entire society took to heart.

#5

The economic institutions created by the United States were building blocks for an era of unparalleled shared economic prosperity. The Soviet model of centralized planning initially yielded fruit, but it would later collapse.

#6

The economic boom that occurred in the 1950s and 1960s led to a mass industrial production in Ravensburger, and the company began to produce puzzles. Women’s emancipation continued throughout the century, and by 2021, there are more women than men enrolled in university in many countries.

#7

The post-war era saw many countries use their economic windfall to build the foundations of a social market economy. In Western Europe, the state offered unemployment benefits, child and education support, universal health care, and pensions.

#8

The post-war economic miracle didn’t last. Cracks began to appear in the system as the price of oil rose fourfold in 1973 and doubled in 1979, as the major oil-producing and -exporting countries flexed their muscles.

#9

The post-war industrial model of progress was built on partnership between company owners and their workforces. But the growth phase of the 1980s was based more on market fundamentalism and individualism and less on state intervention or the building of a social contract.

#10

The Davos Manifesto, which was released in 1973, called for a shift in focus from shareholders to stakeholders, but it was largely ignored in the United States. Instead, economic growth returned in the 1980s, but an ever smaller part of the population benefited from it.

#11

The 1980s saw the collapse of the Eastern European economies, and the rise of the market-based economies of Germany and China. The Berlin Wall fell in 1989, and Europe was euphoric.

#12

Following the Soviet Union's collapse, globalization became a dominant economic force. The world's economies became more intertwined, and countries all over the world started to set up free-trade agreements.

#13

In 2001, America was attacked by terrorists, and the country came to a standstill. The Western economies entered a recession. But the seeds of another economic boost had already been planted.

#14

The global economy has been slowing down since 2007, and many people are becoming poor and unequal.

#15

Swabia in the 21st century is as wealthy as it has ever been, with high wages, low unemployment, and many leisure activities. The region's puzzle game manufacturer has adapted to a world of global supply chains and digital gaming.

#16

The company was founded as the Otto Maier Verlag and later changed its name to Ravensburger. The company was pioneers in China, and they published the Davos Manifesto in 1973.

#17

Simon Kuznets, a Russian-born American economist, was the person who helped develop the concept of GDP and its use as a measure of economic development. He also warned that his own Kuznets curve, which showed that income inequality dropped as an economy developed, was based on fragile data.

#18

The economic development of the United States in the 1920s was a tumultuous one. In the 1930s, the country went through a Great Depression. Economic metrics were scarce, and GDP, the measure we use today to value our economy, had not been invented yet.

#19

GDP is the measurement of a country’s economy, and it is based on the expenditure approach. It does not take into account pollution or resource use, and it does not measure well-being.

#20

The global economy has experienced many periods of rapid expansion, as well as some significant recessions. But the global economic expansion that started in 2010 has been tepid. While global growth has reached peaks of 6 percent and more per year until the early 1970s, it has since fallen back to levels of 3 percent or less.

#21

GDP growth is an aggregate measure that hides several national and regional realities that are often less positive still. In Europe, Latin America, and Northern Africa, for example, real growth is edging closer to zero.

#22

The amount of global debt is staggering. It has been rising rapidly in recent years, and is expected to reach more than 120 percent in 2021. The only alternative is to default, but that is like playing Russian roulette.

#23

The COVID crisis has not made the picture any rosier, as many governments have used helicopter money to sustain the economy. This debt will remain a millstone around many governments’ necks.

#24

If low growth remains the new normal, there is no easy mechanism for countries to repay their historical debt. Looking away will not solve this problem.

#25

Having low interest rates on your debt is a blessing, but not for long. Central banks have been lowering lending rates since the financial crisis, but in 2019, the Fed once again cut rates several times, and when COVID hit, it crashed back down to 0. 25 percent.

#26

The combination of low growth, low inflation, low interest rates, and increasing debt is extremely dangerous, as it can lead to a slowing of productivity growth.

#27

The Western prosperity model was based on perpetual economic growth and productivity gains. But now that growth is grinding to a halt, and problems that had been festering under the surface are becoming more acute by the day.

#28

The second Kuznets’ curse is the result of the blind pursuit of GDP growth. As nations develop, inequality decreases. However, the price of inequality is paid early on in terms of development, and is offset by higher development and lower inequality later.

#29

The story of global income inequality starts with the unexpected rise in incomes in some of the largest and previously poorest countries. China and India have lifted hundreds of millions of people out of poverty by their own calculations.

#30

In America, the gap between the rich and poor is widening dramatically. The traditional measure of inequality, the Gini coefficient, doesn’t do justice to the severity of the problem.

#31

The same pattern exists in other parts of the world, and in some countries, the outrage over these inequalities has erupted with equal force as it has in the English-speaking world.