Freeland, The World Economic Forum and Stakeholder Capitalism

The World Economic Forum (WEF), founded in 1971 by Klaus Schwab, has held its annual meeting in Davos, Switzerland for decades. This year, due to COVID-19, the event went virtual. A key topic was "stakeholder capitalism," with a panel featuring Canada's Deputy Prime Minister and Finance Minister, Chrystia Freeland.

Freeland has long been involved with the WEF and Davos elite. Her 2012 book "Plutocrats" examined the rise of the super-rich, noting a Davos invitation marks "an aspiring plutocrat's arrival." Since 2019, she has sat on the WEF's board of trustees alongside figures like Mark Carney, Al Gore, and corporate leaders.

Potential Conflicts of Interest

Freeland's dual roles - as a WEF trustee "guarding its mission" while also guarding Canada's public finances - raise questions about potential conflicts. As a Privy Council member counseling Canada's governor general, her duty to advise the Aspen Institute Kyiv board could clash with national interests.

The WEF promotes "stakeholder capitalism" - a model where businesses consider employees, communities and the environment, not just shareholders. This contrasts with Anglo-American free market traditions valuing shareholder primacy.

Subvertng Local Democracy?

Critics argue the WEF's agenda, driven by a self-selected global elite, subverts local democracy and sovereignty. By pushing concepts like "stakeholder capitalism" and "The Great Reset," the WEF aims to reshape capitalism based on its own values and priorities.

The irony is that many WEF members amassed wealth through the very free market system they now seek to overhaul. This has led to accusations of hypocrisy - that an elite cadre which benefited from shareholder capitalism now wants to dismantle it.

Defenders say the WEF simply envisions a more sustainable, inclusive form of capitalism. But critics see it as an unelected group imposing its worldview on democracies, eroding core principles like private property rights.

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