World Economic Forum

The World Economic Forum (WEF) is a Geneva-based foundation whose Annual Meeting of chief executives of the world's richest corporations, some national political leaders (presidents, prime ministers and others), and selected intellectuals and journalists, about 2000 people in all, is usually held in Davos, Switzerland. There are also regional meetings throughout the year. It was founded in 1971 by Klaus M. Schwab, a business professor in Switzerland, and has helped fund his family foundation, the Schwab Foundation for Social Entrepreneurship.

Operations

According to its supporters, the WEF is an ideal place for dialogue and debate regarding the major social and economic problems of the planet, since representatives of both the most powerful economic organisations and the most powerful political organisations are present, since intellectuals also participate, and since there is a generally informal atmosphere encouraging wide-ranging debate. Journalists have access to every session at the Annual Meeting in Davos and the majority of sessions are webcast live so that the debates can be open to a wider public. In all about 600 journalists from print, radio and TV take part in the meeting.

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Whilst business and political leaders make up the majority of participants, NGO leaders from groups such as Amnesty International, Transparency International, Oxfam and various UN organisations attend,as well as trades union leaders and religious leaders.

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According to its critics, the WEF is really just a business forum, where the richest businesses can easily negotiate deals with one another and lobby the world's most powerful politicians, and that the aim is profit-making rather than solving economic problems like poverty. Moreover, given the domination of the WEF by corporations, with the status of corporate personhood, and the influence of the WEF in global decision making, it is seen by some critics as an unelected, non-democratic, elitist, secretive world Senate.

Related Topics:
Corporation - Corporate personhood - Decision making - Secretive - Senate

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For these reasons, WEF meetings have regularly attracted anti-globalization movement protests, especially since the Annual Meeting in January 2000. The suspension of civil liberties during the protests is seen by the critics as evidence of the collusion of local authorities with the anti-human rights nature of the WEF.

Related Topics:
Anti-globalization movement - 2000 - Civil liberties - Human rights

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