As the World Economic Forum meets this week at the ski resort town of Davos, Switzerland, conspiracy theories about a “Great Reset” are starting to circulate again. Here’s what the Davos “Great Reset” conspiracy theories are all about.
What is the World Economic Forum?
The WEF (World Economic Forum) is an international non-profit foundation headquartered in Geneva, Switzerland. The organization was founded in 1971 by German economist Professor Klaus Schwab.
According to the WEF website, it's an independent and impartial organization that isn’t tied to any special interests. WEF's mission is to engage global political, business, and cultural leaders in discussions on issues impacting the world. The WEF subscribes to Schwab’s stakeholder theory of capitalism, where “modern enterprise must serve not only shareholders but all stakeholders to achieve long-term growth and prosperity.”
Much of the controversy surrounding the Davos event stems from the theme of the 2021 WEF annual meeting, “The Great Reset.”
What is “The Great Reset?”
According to an article in The Epoch Times, the concept of “The Great Reset” was first addressed in a 2010 book by American urban studies scholar Richard Florida. In the book, which was written after the 2008 financial crisis, Florida theorized that several "great resets" have happened throughout history after significant economic downfalls, such as the Long Depression of the 1870s and the Great Depression in the 1930s, Epoch Times reports.
WEF founder Schwab aligned the Great Reset with the COVID-19 pandemic in the 2020 book he co-authored “COVID-19: The Great Reset.” The book offered the 2020 pandemic as another opportunity for the world to “reset” the global economy.
“The pandemic represents a rare but narrow window of opportunity to reflect, reimagine, and reset our world to create a healthier, more equitable, and more prosperous future,” Schwab wrote in a 2020 WEF article.
Conspiracy theories erupt on both sides of the political aisle.
However, the controversy started when some people started spinning conspiracy theories that somehow the COVID-19 virus and ensuing pandemic was a strategic plan by the global elite to bring about change.
Conspiracy theories spun from both sides of the political aisle. For conservatives and Trump supporters, the WEF “Great Reset” was an endorsement of socialist and environmental policies. Meanwhile, those on the left said the pandemic era “Great Reset” was an attempt to further divide the haves from the have-nots in the world.
“Billionaires are arriving in Davos to celebrate an incredible surge in their fortunes. The pandemic and now the steep increases in food and energy prices have, simply put, been a bonanza for them,” Gabriela Bucher, the executive director of Oxfam International, told CNBC. “Meanwhile, decades of progress on extreme poverty are now in reverse and millions of people are facing impossible rises in the cost of simply staying alive.”