Key Messages
The Great Reset: Exploring Klaus Schwab’S Vision Of A Post-Covid World
COVID-19 has changed the world in an unprecedented way, and it has left almost every aspect of modern life impacted.
Many countries have gone into lockdown, businesses have struggled and individual mental health has suffered.
However, Klaus Schwab and Thierry Malleret believe that this moment also presents us with an opportunity to reset our society in a more sustainable way that they call “The Great Reset”.
In the book “The Great Reset” Schwab and Malleret delve into what their vision of a post-COVID 19 world could look like – offering their own recommendations on how to rethink our global economy, the effects on neoliberalism as well as potential implications for the environment.
It is just one potential vision – one set of subjective opinions that may or may not be influential in how governments and businesses act in the coming years.
Yet it is certainly worth reading if you want to gain an understanding of what one particular set of post-COVID ideas could be.
Hitting Reset: Using The Coronavirus Pandemic To Create A More Resilient, Stable, And Equitable World
The coronavirus pandemic has upended the world, creating an opportunity for humanity to make a lasting change.
It’s a crucial moment in our history, and it’s easily attainable for us to ensure these changes produce a more resilient, stable and equitable society.
This isn’t the first time pandemics have caused ripples of change in society.
Even during the Middle Ages when the Black Death killed up to one third of Europe’s population, transformations immediately followed this tragedy that marked the end of feudalism and saw the beginnings of the Enlightenment.
Thanks to advances like global trade and internet connectivity, societies are highly interdependent today making any risk or issue felt across borders instantly.
We must be mindful that the lack of response on certain issues such as climate change can lead to greater repercussions than initially perceived; migration, food insecurity and global governance can become affected due to drastic environmental changes while economic stability is also threatened by a fragile supply chain system due to velocity impact caused by just-in-time delivery expectations as seen in business models such as fast-food restaurants or online shopping websites which promise same/next day shipping services.
The Pandemic Brings An Opportunity To Reshape Economic Activity And Reevaluate What Is Valuable
It’s no surprise that the economic impact of the COVID-19 pandemic has been far reaching and devastating.
We’ve seen the effects on businesses, individuals, and nations globally.
The shock to our collective economic structure has been a massive one, with an unprecedented drop in March 2020 and total job losses in the US alone over 36 million in March and April.
The long-term economic consequences of this pandemic are likely to be deep and long-lasting.
It’s estimated that unemployment will remain high for some time and it could take years for economic growth to recover.
This is because people may not spend as they usually would, resulting in lower demand for goods and services, as well as less movement of goods across borders which impacts global trade.
But there’s another lesson here: we need to rethink our definition of value.
Currently we rely too heavily on measures like GDP to indicate a country’s success when what should truly matter is quality of life, happiness, wealth equality, and planet health – all areas where progress can coexist with economic progress if done correctly.
The Covid-19 Pandemic Could Lead To The End Of Neoliberalism And A Reformation Of The Social Contract
The coronavirus pandemic has opened our eyes to the various issues affecting our society today, with one of the clearest being the role of governments in ensuring a healthy and well-functioning society.
Looking back at how countries around the world have managed the pandemic, it’s clear that those which placed a high value on trust and solidarity, such as Singapore and South Korea, performed best.
Countries which followed more stridently neoliberal policies, like the United States and UK, were among the worst performing.
This means that post-pandemic, governments will likely be expected to take more responsibility for their actions to ensure a healthy society.
This may involve increasing taxation as necessary or curbing business excesses.
It could also mean strengthening social safety nets such as sick leave and unemployment benefits for those most vulnerable.
Ultimately this shift could bring about a new social contract between citizens and institutions, one where governments held accountable for their roles in protecting citizens from inequality, providing inclusive economic growth and fostering sustainability through climate change resolutions.
As today’s younger generation come of age politically with these values far on their minds, these changes won’t just be desirable but necessary.
The Covid-19 Pandemic Has Revealed The Necessity Of Strong Global Governance In An Increasingly Turbulent World
The world was already facing difficult times geopolitically, with the power of China and the United States in competition and nationalism on the rise globally.
With no country in a dominant position and an “anarchy” predicted to follow COVID-19, we can expect even tougher geopolitical conditions for years to come.
The pandemic has caused tighter border controls to be implemented around the world, which have resulted in decreased reliance on global supply chains – as businesses may now be wary of relying on international sources.
Instead, regionalization is likely taking the place of globalization, with areas like the European Union and Asia’s Regional Comprehensive Economic Partnership becoming more reliable than wider global networks.
This disruption further reveals our need for strong governance on an international level.
The US’ withdrawal of World Health Organization funding shows how necessary this organization is right now to coordinate a pandemic response.
With its return in full force, there will also be increased focus on smaller states who are facing high risk due to unemployment, poverty, food shortages and more that result from this pandemic.
We must all make sure these vulnerable countries do not get forgotten amid increasingly challenging geopolitical conditions.
Seize The Moment, Make C To Create A Greener Future In The Post-Pandemic World
The coronavirus pandemic has shaken the world, but it also presents us with an incredible opportunity to rethink our approach to the environment.
Many of us now realize that human activity is responsible for much of the destruction we have seen during the pandemic, from increasing animal-to-human diseases due to deforestation, to air pollution worsening the effects of COVID-19 in places such as Lombardy.
The future may be bleak, but it doesn’t have to stay like this.
As shocking as it may seem, the pandemic could lead to positive change in terms of our environment if we work together and make use of this precious chance for a reset.
Short term reductions in CO2 emissions are a start, but we need structural changes – not just temporary fixes – if we want a sustainable future.
It’s up to everyone: governments must provide incentives or even make stimulus packages conditional on environmental protection commitments; businesses must reevaluate how they produce goods; and individuals must reject destructive habits such as excessive travel.
However, the key inspiring factor here is that governments and businesses are listening – examples include BP’s decision to reduce their assets due to expectations around green energy growth or behavioral changes such as many people working from home now reducing carbon footprints.
With all these elements in place, global society can seize this unique moment and create something better out of all this strife – one where people would share equal responsibility towards a cleaner, more sustainable planet.
The Pandemic Is Accelerating Technological Change, Raising Issues Of Privacy And Surveillance
As the coronavirus pandemic continues to sweep the globe, an accelerated level of technological advancement can be seen in its wake.
Pre-pandemic, we already saw the Fourth Industrial Revolution gaining speed and momentum.
Now it’s gaining even more force, due to innovations in artificial intelligence (AI), automation, biotechnology, and more.
This increased prevalence of technology is plain to see: from e-learning, e-commerce, and e-attendance, to remote working and jobs that are increasingly being taken over by machines – all accelerated thanks to the pandemic.
We’ve been treated to the introduction of drones for faster delivery services, as well as mobile payments taking on a whole life of their own.
The shift toward this dependence on technology brings with it some very real concerns around privacy – something highlighted by governments rushing to deploy contact tracing and surveillance apps that have drawn both praise and criticism in equal measure.
It’s a bold reminder that while there is undoubtedly a need for these tools in order to monitor people’s health going forward, it must be done so carefully with great consideration given to preserving everyone’s right to privacy.
Lasting Change Is Needed For Business And Industry To Become More Resilient To Future Shock
The COVID-19 pandemic has brought about a huge shift in how business and industry operate around the world.
No longer can we return to “business as usual” – in an age of global crises, we have to become resilient, adaptive and responsive to change.
We must take into consideration the differing impacts this pandemic has had on different industries, from hospitality and retail to aviation, education and more.
For instance, the US government’s 2010 order for 40,000 ventilators from a private company was ultimately canceled in 2012 – something that resulted in devastating consequences come 2020 when there was a severe ventilator shortage due to COVID-19.
This serves as a reminder that the focus on profit and short-term thinking cannot be allowed to continue.
Moreover, businesses will experience changes related to customer behavior – like a shift towards telecommuting which leads to less demand for commercial real estate but an increase in home office equipment purchases.
In addition, fewer people are travelling resulting in decreased air travel but maybe an uptick in local tourism could be seen as well.
All these trends should point towards one thing: long term resilience is key for any business or industry if they want it to survive during periods of crisis such as this coronavirus pandemic or future ones that might hit us down the line.
The Urgent Need For Collaboration And Compassion In A Pandemic Reset
As the world struggles to get through this pandemic, one key question is whether or not such challenging times can breed greater compassion – both on an individual and a collective level.
Some communities in Italy have demonstrated solidarity during the difficult period, engaging in acts of kindness like singing from balconies and giving cheers to health care workers.
The indications are that there’s a very real chance that people could go on to become more empathetic even when the worst of the crisis passes.
But this isn’t a given, and much depends on how individuals respond to the sudden focus on mental health issues highlighted by COVID-19.
It’s possible that these worries about public transport or visiting relatives will linger negatively and create further divisions between people.
Reaching greater empathy requires an active effort from governments, but at least individuals have the opportunity to take part in this process for change – with an individual reset being capable of transforming us all into more compassionate persons.
Global collaborations may also help pave our way out of pandemics and other crises like the climate emergency – with no nation able to succeed alone in these trying times.
We each have a unique role to play if we’re going to get things right in this great reset made possible by our current circumstances.
Wrap Up
The Great Reset, written by Klaus Schwab, provides us with an eye-opening and in-depth summary of the immense changes facing us as a global community due to the COVID-19 crisis.
Not only has this pandemic forced us to rethink how we interact with one another and live our lives, but it’s also presented us with an opportunity to reset our world into something that is more resilient and addresses some of the systemic issues we’ve been struggling with for years.
This book takes a comprehensive look at how society will be shaped by forces in the coming months and years, and also outlines what kind of approach each nation or region can take towards adapting to these changes.
Ultimately, it emphasizes a hopeful message – that if we all set our minds to creating positive change together, then we could achieve great things from this crisis.
