It does not come as a surprise that following the Arab Spring and the worldwide Occupy movement in 2011, the theme chosen for World Economic Forum Summit 2012 is "Seeds of Dystopia". While there appears to be a reluctant admission on the part of political and business leaders that old greed based system is collapsing, no definite movement towards looking for a right solution is in sight.
As Huffington Post report on the "Occupy Davos" protestors mentions, it is the same usual exercise by the 1% taking decisions for the rest of the 99%. Yet a deeper examination gives some cause for hope.
First, in their own risk assessment for 2012, "Major Systemic Financial Failure" gets highest ranking of nearly 4.2. Next the summit begins with "The Great Transformation : Shaping New Models", implying that the recognition of the transformation and the search for new models is there, even though it may be in the wrong direction this year. Further the program lists a few topics for discussion such as "Fixing Capitalism" and "Beyond Basel: Financial Institution Regulation". It may be recalled that it was the flouting of Basel Accord regarding the capital adequacy and liquidity norms of financial institutions that led to the current global economic crisis.
There is also growing feeling amongst the business and political leaders that the "Occupy" movement will only grow and consolidate itself in 2012.
Cause for Hope?
Yes, the "occupy" movement will grow and consolidate in 2012. Leaders everywhere are blind indeed, and a quite peaceful revolution in the streets of the more democratic countries is what I expect. In countries where situation is rougher, change will be rougher, too.
Yes, understanding is the root of real power, and people everywhere are beginning to understand. From this understanding, a new culture will emerge.
So take heart, my friends, we hold a share in the big change business!!! :-D