International Economics: IB Economics

Joseph Stiglitz argues that Davos 2022 represents another missed opportunity - yet another - to reflect on the existing global order and it's weaknesses. He argues that, in part, this reveals the myopia of an organisation still uncritically committed to globalisation but with little willingness to tackle the structural issues that remain. 

He highlights broken global supply chains, issues with food and energy production and an intellectual property regime that has allowed pharmaceutical companies to profit from the pandemic. Does the new world order need to go beyond the previous model and re-invent itself. 

A tongue-in-cheek look at what might have been on the agenda at Davos this year, even though the World Economic Forum have cancelled the gathering, again.

Lots to ponder: global inequality - without any sense of irony at a meeting of the super-rich ; inflation, China's place in the world, cryptocurrencies, medicine and the concept of 'Building Back Better'.

What's not to like about this World Economic Forum clip? R

Recycling of the first order, the circular economy, environmentally-friendly, health enhancing, and developmentally beneficial. A Kenyan firm is producing fuel out of faeces and, I suspect, other firms in other countries will be attempting to copy this innovation.

An excellent clip for showing the very real ways that climate change has impacted upon pastoralists in Chad. Most obviously, the disappearance of 90% of Lake Chad has impacted upon the 40 million people who were dependent upon it for their lifestyles.

As a result, there's been a massive increase in internal migration and highlights the fact that those people who suffer most from climate change aren't those responsible for creating the climate emergency.

If you haven't seen Rutger Bregman attacking the global elite for tax evasion on YouTube over the issue of tax avoidance, among other things, then where have you been?

His assault on the ego of Davos man/woman also includes an aside that highlights the hypocrisy of so many people arriving by private jet to hear a talk on climate change.

Neither are unreasonable positions.

A brief snapshot of Davos in the Observer: has Davos lost its lustre? This year's event failed to capture the headlines - and there are even suggestions that the format has become tired. 

But as the article notes - echoing Oscar Wilde: there's only one thing worse than being invited to Davos - and that's not being invited. 

The Guardian looks at the issues likely to be on the agenda at Davos, in between the canapes and the arrival of the ghastly Trump entourage.

Larry Elliott writes about the postponement of Davos but highlights the issues and the hypocrisy that surrounds them. Climate change, tax avoidance and vaccine apartheid remain the issues at the forefront of the global agenda, which generate a lot of fine words, often by those best able to tackle them who then find numerous ways of avoiding tackling them directly. 

It's rumoured that Davos may take place later in the year; however, will there by much appetite for it.

Ethiopia has announced plans to plant 5 billion trees this year to help fight climate change, and to counter environmental degradation. It marks a shift in emphasis, and explicit acceptance of sustainable developmental goals. 

Larry Elliott with a typically astute article looking at the fallout from the World Economic Forum meeting at Davos, where climate change was at the top of the agenda. 

However, for all the talk about tackling the issue, Elliott points out that many of the proposals to tackle the issue impose significant costs on the poorest members of global society, not least in the form of higher taxes. And that might be something that makes them unpalatable. 

Larry Elliott cstches up with Rutger Bregman, the man of the moment, who savaged the assembled billionaires at Davos. He reveals that his outburst about tax avoidance was, in large part, brought about by his reaction to the week and the gap between the rhetoric and reality of the week. 

It must be difficult for attendees to have a conscience whilst wolfing down hummingbird wings and the like at Davos. 

Larry Elliott looks back at Davos and, rather unfairly I think, points out the disconnect between what the global elite say and what they do. I don't think it's fair, not because it isn't true but because I don't think that this year is any different to any other year.

If anyone is under the illusion that Davos is going to resolve the world's problems, or is going to focus on improving the lot of the world's poor, than they're horribly mistaken. It's a talking shop, a networking event and the place for the world's largest narcissists to be seen.  

The headline tells you all you need to know.

It's Davos time again - and this time, Larry Elliott argues that the world's global elite should be looking to tackling an influenza epidemic, unfashionable though it may be. 

It's a fascinating and oft-overlooked topic.