Evidently an abundance of Have-Lots are piling down to Davos to discuss The Have-Nots. The timing is perfect, but the issue is not. As reported today by the NYT, the book, Equality and Efficiency: The Big Trade Off, written by Arhur Okun in 1975 said, “We can’t have our cake of market efficiency and share it equally.”
Increasingly there are two types of consumer, those with more dinners than appetite and those with more appetite than dinners. To reverse this trend and deracinate the doom of a double dip, at Davos – where everyone’s saying “interdependent” community – requires shared responsibilities, shared benefits and shared values and please don’t try and convince the $100+trillion world economy is anything but self-indulged and survivalist. Ski and see.