German - Economist | March 30, 1938 -
I am an enthusiastic European, and my first-hand experience of war and hatred has strengthened that conviction. I have seen how misguided unilateral nationalistic identities have brought destruction and death. I am, however, a world citizen, too.
Klaus Schwab
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Business cycles naturally entail peaks and troughs in employment, and socially responsible businesses should follow successful examples like Coca-Cola, Alcoa, Saudi Aramco, Africa Rainbow Minerals, and Google in working toward mitigating joblessness and enhancing people's abilities to earn a livelihood.
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I believe that, if managed well, the Fourth Industrial Revolution can bring a new cultural renaissance, which will make us feel part of something much larger than ourselves: a true global civilization. I believe the changes that will sweep through society can provide a more inclusive, sustainable and harmonious society. But it will not come easily.
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Technological change is never an isolated phenomenon. This revolution takes place inside a complex ecosystem which comprises business, governmental and societal dimensions. To make a country fit for the new type of innovation-driven competition, the whole ecosystem has to be considered.
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Of all the many leaders I have met in the course of my life, none made a deeper impression on me than Nelson Mandela. His courage, compassion, humility and wisdom were without parallel on the world stage, and he himself was an enduring source of inspiration.
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Talent is a by-product of education; the quality of a country's human capital depends on it.
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Technology is going to revolutionize almost every sector, leading to the demise of many traditional professions. Economic and political power will be determined less by a country's size than by its technological superiority.
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We must address, individually and collectively, moral and ethical issues raised by cutting-edge research in artificial intelligence and biotechnology, which will enable significant life extension, designer babies, and memory extraction.
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When you can't cope with change, you feel overwhelmed, and you look for a simple solution.
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For all the opportunities that arise from the Fourth Industrial Revolution - and there are many - it does not come without risks. Perhaps one of the greatest is that the changes will exacerbate inequalities. And as we all know, a more unequal world is a less stable one.
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For centuries, economic thinkers, from Adam Smith to John Maynard Keynes, have tried to identify the elusive formula that makes some countries more prosperous and successful than others. My curiosity about this topic spurred me, as a young professor of economics in the late 1970s, to research new ways of measuring national competitiveness.
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New technologies, however remarkable they might seem, are fundamentally just tools made by people for people.
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