Austrian Economics Monthly
The Great Reset and its Consequences
The Great Reset – a conspiracy theory to some, an existential threat to others. It became pretty clear that we would probably need some kind of reset after the pandemic as time went by. By now, it is evident that there will be no going back to the status quo ante – to the “old normal”.
Klaus Schwab and Thierry Malleret outline a “reset” concept based on their analysis: The pandemic is an opportunity to strengthen the interests of the “stakeholders” in capitalism against those of the shareholders in profit maximization, i.e. sustainability, environmental protection and the interests of dependent employees. The goal is to “make the world less divided, less polluting, less destructive, more inclusive, more just and more fair” than before the pandemic.
Yet, satisfying answers on how such a “great reset” could/should look like are in short supply.
- Barbara Kolm is the leading female libertarian in Europe, Vice President of the Austrian Central Bank, Director of the Austrian Economics Center, and President of the Hayek Institut.
- Dan Mitchell is is a public policy economist in Washington, DC. His major research interests include tax reform, international tax competition, and the economic burden of government spending. He is one of the nation’s leading experts on the flat tax and has been the leading international voice in the fight to preserve tax competition, financial privacy, and fiscal sovereignty.
- Christof Zeller-Zellenberg is an economist, investor and chairman of the Europa Institut. For 15 years he was Director of PWM REE at Deutsche Bank; today he is involved in private equity and is a sought-after lecturer in the fields of economics and ethics. Zeller-Zellenberg is a member of the kath.net editorial team.
- Pietro Paganini is the President and Curiosity Officer at Competere, and Prof. at Fox School of Business, Temple University of Philadelphia.
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