CAPITALISM'S "EXCESS" IN FOCUS AT DAVOS - Klaus Schwab, the founder of the World Economic Forum taking place in Davos in the Swiss Alps from today, has said that capitalism is out of whack. He says there is too much excess and not enough inclusiveness in the capitalist system.
The forum's theme this year is: "Is 20th century capitalism failing 21st century society?"
In its 42nd year, the forum calls itself an independent international organisation committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas.
Neal Lipschutz, managing editor of Dow Jones Newswires, is in Davos. He says he is not sure that Mr Schwab's views will be universally embraced by business leaders.
But he says Davos does provide a forum for discussing the big questions about capitalism and economics. He says the views expressed by Mr Schwab are at the forefront in ways they would not have been in previous years at Davos.
Mr Lipschutz says Davos discussions are not about providing immediate solutions, but "planting seeds" or generating long-term ideas.
He says some of the main talking points this year will include unemployment, and how to strike a balance between achieving growth and austerity.
