What is The Great Reset?

Photo by Tom Grünbauer on Unsplash

The Great Reset is an idea put together by the World Economic Forum and its Founder and Executive Chairman Klaus Schwab, which looks to reset economic and social policies world wide in an attempt to, “emerge from this crisis (COVID) a better world”(1) and reset capitalism. What are the policies they look to enact world wide?

The World Economic Forum begins off by covering what it believes to be the main reasons for a Great Reset. One of them being Covid-19, calling it one of the worst public health crisis in recent history which, “will have serious long-term consequences for economic growth, public debt, employment, and human well-being.” (2). They also point to the increasingly high rates of unemployment during the Covid-19 pandemic using a New York Times source claiming that one in four workers have filed for unemployment in the US since mid-March (3). While finally bringing up the climate change crisis exacerbating the current situation.

World Economic Forums Ideas For a Fix

There are three main components to the Great Reset. The first looks to steer the market towards fairer outcomes by upgrading trade agreements, creating the conditions for a stakeholder economy, and government implemented reforms promoting more equitable outcomes. The World Economic Forum believes, “these may include changes to wealth taxes, the withdrawal of fossil-fuel subsidies, and new rules governing intellectual property, trade, and competition (4)”.

The second is making sure that investments improved shared goals, not individual ones, spending money on things such as equality and sustainability. It’s thought that instead of “filling the cracks” of the old system, that it should be stripped away for things such as building “green” urban infrastructure.

While the third is “to harness the innovations of the Fourth Industrial Revolution to support the public good, especially by addressing health and social challenges (5)”.

(https://www.weforum.org/agenda/2016/11/shopping-i-can-t-really-remember-what-that-is/)

The vision of what all this would look like has also been put out by the World Economic Forum, titled “Welcome to 2030. I own nothing, have no privacy, and life has never been better”. It’s able to be found here and is worth a read through. The original article has been taken down, however the same article was posted on Forbes and can be found here (https://www.forbes.com/sites/worldeconomicforum/2016/11/10/shopping-i-cant-really-remember-what-that-is-or-how-differently-well-live-in-2030/?sh=1b8379671735) (Editted 1/07/2021).

What They Hope to Achieve by 2030

Using the article from Forbes, and another article on the World Economic Forum website titled, “8 predictions for the world in 2030”, we are able to get an idea as to what we maybe heading towards.

1- No longer owning anything, everything becomes a service. You no longer own your clothes, your car, your house or it’s appliances and your living room will be used for meetings. They continue to say, “It sounds utopian, until she mentions that her every move is tracked and outside the city live swathes of discontents, the ultimate depiction of a society split in two.”(6). “Once in a while I get annoyed about the fact that I have no real privacy. Nowhere I can go and not be registered. I know that, somewhere, everything I do, think and dream of is recorded. I just hope that nobody will use it against me.” (7)

2- A world-wide price on carbon. (8)

3- Nation states will make a come-back, and the United States will not hold so much power. (9)

4- It is believed you will be able to be treated for any injuries or sickness at home instead of visiting a hospital. Tiny Robots and printed organs could be used. (10)

5- Meat will become more of a treat than a staple part of our diet (11)

6- Todays Refugees will be 2030’s world leaders (12)

7- It’s thought that western culture and values will have been tested to their breaking point, suggesting a decline or break up of western culture (13)

8- Last but not least, the movement of humans towards Mars (14)

These are all from the World Economic Forum articles and may, or may not give an idea of what the future will look like. Is this something which excites or worries? Is this the right direction?

-Trent Naz

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Source Section -

Most sourced came from the main World Economic Forum article on the Great Reset.

(1) Schwab, K., 2020. Now Is The Time For A ‘Great Reset’. [online] World Economic Forum. Available at: <https://www.weforum.org/agenda/2020/06/now-is-the-time-for-a-great-reset/> [Accessed 15 November 2020].

(2) Schwab, K., 2020. Now Is The Time For A ‘Great Reset’. [online] World Economic Forum. Available at: <https://www.weforum.org/agenda/2020/06/now-is-the-time-for-a-great-reset/> [Accessed 15 November 2020].

(3) Source used by WEForum- Nytimes.com. 2020. U.S. Jobless Claims Pass 40 Million: Live Business Updates. [online] Available at: <https://www.nytimes.com/2020/05/28/business/unemployment-stock-market-coronavirus.html> [Accessed 15 November 2020].

(4) Schwab, K., 2020. Now Is The Time For A ‘Great Reset’. [online] World Economic Forum. Available at: <https://www.weforum.org/agenda/2020/06/now-is-the-time-for-a-great-reset/> [Accessed 15 November 2020].

(5) Schwab, K., 2020. Now Is The Time For A ‘Great Reset’. [online] World Economic Forum. Available at: <https://www.weforum.org/agenda/2020/06/now-is-the-time-for-a-great-reset/> [Accessed 15 November 2020].

(6) Parker, C., 2021. 8 predictions for the world in 2030. [online] World Economic Forum. Available at: <https://www.weforum.org/agenda/2016/11/8-predictions-for-the-world-in-2030/> [Accessed 1 July 2021].

(7) Forbes. 2021. Welcome To 2030: I Own Nothing, Have No Privacy And Life Has Never Been Better — World Economic Forum. [online] Available at: <https://www.forbes.com/sites/worldeconomicforum/2016/11/10/shopping-i-cant-really-remember-what-that-is-or-how-differently-well-live-in-2030/?sh=1b8379671735> [Accessed 1 July 2021].

(8) Parker, C., 2021. 8 predictions for the world in 2030. [online] World Economic Forum. Available at: <https://www.weforum.org/agenda/2016/11/8-predictions-for-the-world-in-2030/> [Accessed 1 July 2021].

(9) Parker, C., 2021. 8 predictions for the world in 2030. [online] World Economic Forum. Available at: <https://www.weforum.org/agenda/2016/11/8-predictions-for-the-world-in-2030/> [Accessed 1 July 2021].

(10) Parker, C., 2021. 8 predictions for the world in 2030. [online] World Economic Forum. Available at: <https://www.weforum.org/agenda/2016/11/8-predictions-for-the-world-in-2030/> [Accessed 1 July 2021].

(11) Parker, C., 2021. 8 predictions for the world in 2030. [online] World Economic Forum. Available at: <https://www.weforum.org/agenda/2016/11/8-predictions-for-the-world-in-2030/> [Accessed 1 July 2021].

(12) Parker, C., 2021. 8 predictions for the world in 2030. [online] World Economic Forum. Available at: <https://www.weforum.org/agenda/2016/11/8-predictions-for-the-world-in-2030/> [Accessed 1 July 2021].

(13) Parker, C., 2021. 8 predictions for the world in 2030. [online] World Economic Forum. Available at: <https://www.weforum.org/agenda/2016/11/8-predictions-for-the-world-in-2030/> [Accessed 1 July 2021].

(14) Parker, C., 2021. 8 predictions for the world in 2030. [online] World Economic Forum. Available at: <https://www.weforum.org/agenda/2016/11/8-predictions-for-the-world-in-2030/> [Accessed 1 July 2021].

Don’t think anymore articles will be coming. Thank you for all your support over the last year and a half.