'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 societys wealthiest
By Heather Long January 26 at 6:00 AM
DAVOS, Switzerland Leaders of the worlds 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/