THE Great Reset is a concept that would essentially reboot the economy following a miserable 2020.
The World Economic Forum came up with the idea.
The coronavirus has been devastating in the US and around the worldCredit: AFP – Getty
What is The Great Reset?
The Great Reset is a proposal to rebuild the economy sustainably following the devastating impact left by the coronavirus pandemic.
“Leaders find themselves at a historic crossroads, managing short-term pressures against medium- and long-term uncertainties,” according to the World Economic Forum.
“To achieve a better outcome, the world must act jointly and swiftly to revamp all aspects of our societies and economies, from education to social contracts and working conditions.
A man carries an oxygen cylinder to deliver it to a relative at the area of respiratory diseases of the 2 de Mayo Hospital in Lima on June 3, 2020Credit: AFP – Getty
“Every country, from the United States to China, must participate, and every industry, from oil and gas to tech, must be transformed.
“In short, we need a ‘Great Reset’ of capitalism.”
Customers wear facemasks to prevent the spread of coronavirus as they line up to enter a Costco Wholesale store April 16, 2020 in Wheaton, MarylandCredit: Getty Images – Getty
The WEF proposal added: “As we enter a unique window of opportunity to shape the recovery, this initiative will offer insights to help inform all those determining the future state of global relations, the direction of national economies, the priorities of societies, the nature of business models and the management of a global commons.
Chief of Staff Joseph Varon looks across the Covid-19 ward at United Memorial Medical Center in Houston, Texas on December 4, 2020Credit: AFP – Getty
“Drawing from the vision and vast expertise of the leaders engaged across the Forum’s communities, the Great Reset initiative has a set of dimensions to build a new social contract that honours the dignity of every human being.”
It was a year to forget for most
The proposal has been called a risky experiment and thousands have signed a petition to oppose it.
What is World Economic Forum?
The non-profit World Economic Forum, based in Switzerland, was founded in 1971.
The organization’s mission is stated as “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.”