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'The aristocrats are out of touch': Davos elites believe the answer to inequality is 'upskilling'
Source: Washington Post
‘The aristocrats are out of touch’: Davos elites believe the answer to inequality is ‘upskilling’
At the same time, they panned the idea of higher tax rates for society’s wealthiest
By Heather Long January 26 at 6:00 AM
DAVOS, Switzerland — Leaders of the world’s largest and most powerful companies are on edge. A decade after the financial crisis, their businesses are thriving and their pocketbooks are overflowing, but they worry about populism and the threat it poses to the global order they helped build.
Many executives gathered at the exclusive World Economic Forum this week acknowledged that inequality is a major problem fueling populist backlash, and that some middle-class jobs in the West are being lost to trade and automation (even though more jobs overall are being created around the world).
-snip-
The solution to inequality, many in Davos said, is “upskilling” people so that they can obtain better jobs in the digital economy.
“The lack of education in those areas in digital is absolutely shocking. That has to be changed,” Stephen A. Schwarzman, chief executive of Blackstone, told a panel. “That will very much lessen the inequalities that people have in terms of job opportunities.”
Schwarzman, whose net worth is estimated at $13 billion, said it is “up to the grown-ups” to make digital upskilling happen in K-12 schools.
-snip-
At the same time, they panned the idea of higher tax rates for society’s wealthiest
By Heather Long January 26 at 6:00 AM
DAVOS, Switzerland — Leaders of the world’s largest and most powerful companies are on edge. A decade after the financial crisis, their businesses are thriving and their pocketbooks are overflowing, but they worry about populism and the threat it poses to the global order they helped build.
Many executives gathered at the exclusive World Economic Forum this week acknowledged that inequality is a major problem fueling populist backlash, and that some middle-class jobs in the West are being lost to trade and automation (even though more jobs overall are being created around the world).
-snip-
The solution to inequality, many in Davos said, is “upskilling” people so that they can obtain better jobs in the digital economy.
“The lack of education in those areas in digital is absolutely shocking. That has to be changed,” Stephen A. Schwarzman, chief executive of Blackstone, told a panel. “That will very much lessen the inequalities that people have in terms of job opportunities.”
Schwarzman, whose net worth is estimated at $13 billion, said it is “up to the grown-ups” to make digital upskilling happen in K-12 schools.
-snip-
Read more: https://www.washingtonpost.com/business/2019/01/26/aristocrats-are-out-touch-davos-elites-believe-answer-inequality-is-upskilling/
