Thierry Malleret: Are We Witnessing the Great Reset in Action?

The World Economic Forum (WEF) represents a significant convening of global elites, including leaders from various sectors such as government, industry, and popular culture, meeting annually in Davos, Switzerland. Founded in 1971 by Klaus Schwab, a German economist, the WEF originally focused on discussing business practices within Europe, and is rooted in a concept Schwab termed “stakeholder capitalism.” This philosophy holds that corporate executives should be responsible for a broader group, including stakeholders, rather than solely prioritizing shareholders. Schwab’s foundational ideas were articulated in the “Davos Manifesto,” which emphasizes the role of company leaders as stewards of society and the environment, ensuring sustainability for future generations.

The COVID-19 pandemic brought increased scrutiny to the WEF and its agenda, particularly due to the publication of Schwab’s book, “The Great Reset,” in July 2020. This book gained considerable attention and spurred debate over the WEF’s intentions and strategies post-pandemic. As indications of public interest grew, numerous podcasts, articles, and video commentaries emerged, exploring diverse interpretations of the Great Reset. Schwab co-authored the book with Thierry Malleret, an economist and former advisor to investment banks and governments, who previously helped curate WEF programs before parting ways with Schwab. Malleret later published “Deaths at Davos,” a dark satire reflecting his views on the inner dynamics of the WEF and its influential role in global governance.

In discussing the motivations behind “Deaths at Davos,” Malleret points to its intent to critique the status quo and society’s acceptance of corporate influence on governance and policy. He suggests that the gatherings in Davos often serve as a façade for the elite’s discussions that exclude broader public concerns. Additionally, Schwab’s vision appears compromised, as Malleret posits that many leaders are more focused on their interests rather than embracing the transformative ideals of stakeholder capitalism and sustainability he espouses. Thus, Malleret’s book serves as an allegorical caution against the dangers of unchecked power and the diminishing role of public interest in decision-making.

As the conversation unfolds, Malleret expresses concerns about the future of WEF-like organizations, questioning their relevance in an increasingly polarized and fragmented global landscape. Reflecting on the decline of the West’s dominance, he argues that many of these organizations may struggle to adapt to changing global dynamics. The debate continues around the political and economic frameworks these organizations propose, especially regarding stakeholder capitalism’s implications for capitalism and libertarian ideologies. Critics argue that a stakeholder approach that prioritizes societal interests could devolve into a form of corporatism, whereby corporate entities exert undue influence over governmental policies and societal norms.

The discussion also touches upon reactions to conspiracy theories surrounding the Great Reset notion, revealing a significant disconnect between public perceptions and the actual objectives of the WEF. Critics often frame the WEF’s vision as elitist and patronizing, promoting a worldview that disavows individual initiative and freedom in favor of centralized planning. Malleret acknowledges the skepticism but insists that focusing on broader stakeholder interests is crucial for addressing pressing global challenges like climate change or economic inequality. This tension raises fundamental questions about governance, accountability, and the role of institutions within democratic systems.

Malleret concludes by emphasizing the complexity and nuance of stakeholder capitalism, acknowledging its potential benefits while recognizing the risks of potential corporate overreach. His insights highlight a critical examination of the path forward for global organizations like the WEF, as they navigate public skepticism, calls for transparency, and the need for genuine inclusion in decision-making processes. Ultimately, the conversation encapsulates the ongoing struggle to balance corporate interests with societal needs in a rapidly changing world, a challenge that will likely define the future of global governance and economic frameworks.