EXECUTIVE PERSPECTIVE: Economic Worries and the Global Elite

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EXECUTIVE PERSPECTIVE: Economic Worries and the Global Elite

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EXECUTIVE PERSPECTIVE: Economic Worries and the Global Elite

Wednesday, June 19, 2013 - 2:15pm

CAMPAIGN: EXECUTIVE PERSPECTIVE

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By Chrystia Freeland | 19 June 2013

EDINBURGH – Here’s one sign the global elite is starting to get worried that capitalism isn’t working for the Western middle class. At the TED Global gathering in Scotland’s elegant capital city this week, much of the spotlight was on what’s going wrong with the 21st-century economy.

That matters because the TED conferences are one of the obligatory stops on the itinerary of any self-regarding plutocrat, and in the past that constituency has often preferred its vision of the economic future served sunny-side up. (TED stands for technology, entertainment and design, and is a not-for-profit global conference organization.)

The gloom started with former Prime Minister George Papandreou of Greece. In a remarkably candid and introspective talk, Papandreou offered a mea culpa for his own mistakes and those of the European political elite. He admitted that hardship had been imposed on people who were “in the main, not to blame for the crisis” and accused the European establishment of uncritically, and at great cost, clinging to “the orthodoxy of austerity.”

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Keywords: George Papandreou | Global Elite | TED | Thomson Reuters | executive perspective | sustainability

CAMPAIGN: EXECUTIVE PERSPECTIVE

CONTENT: Article

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