We are at the crossroad.

There are so many threats, so many risks.

And if we don't get them under control,

we risk a kind of explosive situation.

Human League.

I'm present.

This week, the richest and most powerful people on Earth I'm present.

This week, the richest and most powerful people on Earth will meet at an event in Davos, Switzerland, an event called the World Economic Forum, or W.E.F.

The W.E.F. looms large in the public imagination these days, viewed by some as a conspiratorial organization determined to control all of us.

So what exactly is the WEF? Where did it come from? What does it represent? And are the so-called conspiracy theorist Wright?

The World Economic Forum was first established in 1971, led by a German engineer, economist, and professor with a master's from Harvard.

His name was Klaus Schwab.

Fav was the originator of a theory of governance and markets.

He called stakeholder capitalism, defined in opposition to shareholder capitalism.

Shareholder capitalism was a term coined by economist Milton Friedman,

suggesting that businesses ought to focus on returns to their investors. As Friedman argued,

quote, businessmen believe that they are defending free enterprise when they declaim that business is not merely concerned with profit,

but also with promoting desirable social ends. In fact, they are, or would be if they or anyone else took them seriously,

preaching pure and unadulterated socialism.

Schwab argued that businesses ought to promote just that.

Answerability, not to the people who bought and owned their shares, but to the world at large.

Schwab wrote, quote, a company serves not only its shareholders, but all its stakeholders,

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