

Why a proposed 'new capitalism' is contested
Oct 3, 2025
Ira Basen, a contributor and documentary producer, dives deep into the controversial concept of The Great Reset, originated by the World Economic Forum. He discusses its perception as either a benevolent shift towards stakeholder capitalism or a sinister plot by elite conspirators. The conversation explores how the pandemic accelerated these discussions, the political connections in Canada, and the challenges of balancing corporate profit with social responsibility. Ira also addresses the real concerns versus exaggerated fears surrounding this new economic vision.
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Pandemic As A Reset Moment
- The Great Reset was launched by the World Economic Forum in June 2020 to reimagine a post-pandemic world.
- It frames the pandemic as an opportunity to reshape capitalism toward sustainability and equity.
Davos As An Unelected Convening Power
- Klaus Schwab convened global elites at Davos to blend government and business for common goals.
- The WEF functions as a networking and agenda-setting hub rather than a formal international body.
Stakeholder Capitalism Explained
- Stakeholder capitalism shifts corporate purpose from shareholder profit to broader social concerns.
- The idea gained traction after 2008 and 2019 statements but lacks clear, enforceable mechanisms.