September 22, 2020

Von der Leyen claims in Davos “an economy that works for people”

The president of the European Commission, Ursula von der Leyen, today claimed “an economy that works for the people”, on the occasion of the inauguration of the 50th edition of the World Economic Forum in Davos.

Von der Leyen took the floor during the 50th anniversary celebration ceremony of these conferences that annually bring together the most prominent leaders of the political, business and academic world of the planet.

The president of the executive body of the European Union recalled that Professor Klaus Schwab, founder of the Forum and its head still today, at 81, was a pioneer in glimpsing many of the economic and social problems that would come later, and in defending the social market economy.

“You were one of the first to question European dependence on fossil fuels, a few years before the first oil crisis broke out,” said Von der Leyen.

You also “were one of the first to advocate for sustainable economic growth.”

“And fifty years ago you described the clash between two kinds of capitalism.” This is the so-called ‘shareholder capitalism’ versus shareholders’ stakeholders. “

“The first model only cares about the shareholder’s benefit; the second – in which you have always believed – is the one based on social responsibility,” added Von der Leyen, addressing Schawb from the rostrum.

“Responsibility with workers and their families, responsibility towards our environment, and responsibility towards society as a whole”.

“The concept of social market economy formed your thinking from the beginning, and that is also the political culture from which I come,” said Von der Leyen.

And he stressed: “Let me say with some pride that, fifty years later, it is more necessary than ever. I demand an economy that works for people, and that is what you had in mind half a century ago.”


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