KLAUS SCHWAB

Following World War II, the world mostly shared values about human rights, democracy and so forth. Many believed then that Western liberal ideas would be universal. But today it is not the case that we share the same values. If you look at Russia, China, Turkey—and even inside our societies—people have different concepts about how to organize big societies. Typically in Western society, the individual is protected against the collective. But increasingly, the collective is protected against the individual. And even inside our own society, the question arises more and more about how much should you defend the collective against the individual? What is the right balance?

Identity is what gives you self-confidence, purpose of life and affinity with other people. We are in a situation where it is harder to develop an identity because we are living in a much more dynamic world.

Job loss is coming like a tsunami.

New technologies, however remarkable they might seem, are fundamentally just tools made by people for people.

Of all the many leaders I have met in the course of my life, none made a deeper impression on me than Nelson Mandela. His courage, compassion, humility and wisdom were without parallel on the world stage, and he himself was an enduring source of inspiration.

For centuries, economic thinkers, from Adam Smith to John Maynard Keynes, have tried to identify the elusive formula that makes some countries more prosperous and successful than others. My curiosity about this topic spurred me, as a young professor of economics in the late 1970s, to research new ways of measuring national competitiveness.

The First Industrial Revolution used water and steam power to mechanize production. The Second used electric power to create mass production. The Third used electronics and information technology to automate production.

I like, very much, nature. Since I'm always together with people, I like to retreat.

Sometimes, if a country's currency is overvalued in real terms, and it looks like the current account is going to be in deficit for the foreseeable future, devaluation can make sense.

One new reality is global interconnectivity and the fact that all challenges must be addressed on the basis of 'togetherness.' Thus the most crucial factor in accepting the new reality and confronting its opportunities and risks is our willingness to develop shared norms on all levels.

I am an enthusiastic European, and my first-hand experience of war and hatred has strengthened that conviction. I have seen how misguided unilateral nationalistic identities have brought destruction and death. I am, however, a world citizen, too.

Technological change is never an isolated phenomenon. This revolution takes place inside a complex ecosystem which comprises business, governmental and societal dimensions. To make a country fit for the new type of innovation-driven competition, the whole ecosystem has to be considered.

We often hear people talk about the concept of 'uberization,' where a new technology completely turns an industry on its head and forces us to rethink the way things have always been done. No industry will remain untouched by these forces.

Talent is a by-product of education; the quality of a country's human capital depends on it.

We are now living in a completely digitalized world and a completely globalized world, so we have to find some new mechanisms and values to deal with this post-digitalized and post-globalized world.

In Switzerland, we have a centuries-old tradition of living together in one confederation and one society. That holds us back from excesses. We are a civilized and enlightened community and, by practising multicultural tolerance, we manage to stop extreme developments from going too far.

Technology is going to revolutionize almost every sector, leading to the demise of many traditional professions. Economic and political power will be determined less by a country's size than by its technological superiority.

When the World Economic Forum was established in 1971, the global population was four billion, of which 50% lived in poverty.

The Fourth Industrial Revolution can compromise humanity's traditional sources of meaning - work, community, family, and identity - or it can lift humanity into a new collective and moral consciousness based on a sense of shared destiny. The choice is ours.

The trends that are shaping the twenty-first-century world embody both promise and peril. Globalization, for example, has lifted hundreds of millions of people out of poverty while contributing to social fragmentation and a massive increase in inequality, not to mention serious environmental damage.

Europe has grown to 27 member states, encompassing an amazing diversity and richness. Some argue this is part of the problem: Europe is simply too big and culturally disparate to be managed properly. But look to India for an example of how social unity can be forged within a culturally, linguistically, and ethnically complex nation.

Diversity does not preclude political stability.

Corporate social responsibility is measured in terms of businesses improving conditions for their employees, shareholders, communities, and environment. But moral responsibility goes further, reflecting the need for corporations to address fundamental ethical issues such as inclusion, dignity, and equality.

New technologies and approaches are merging the physical, digital, and biological worlds in ways that will fundamentally transform humankind. The extent to which that transformation is positive will depend on how we navigate the risks and opportunities that arise along the way.

When you can't cope with change, you feel overwhelmed, and you look for a simple solution.