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" 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. "

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" 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. "

Klaus Schwab

Environmental

World

People

" Environmental pollution, terrorism, and many other global threats do not stop at borders. We all bear global responsibility and thus need a global identity to enable us to cope with them. We must learn to integrate different levels of identity in ourselves. What matters is not either/or, but both/and. "

" 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. "

" The concept of corporate social responsibility (CSR) has long been used as an effective lens through which to examine the actions business can take toward ensuring mutual long-term well-being and sustainability. "

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

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

Klaus Schwab

Always

Nature

" I do not deny my German identity. But I also feel Swiss. Of my eight great-grandparents, seven were born Swiss. I have been living in Switzerland for more than 50 years. "

" 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. "

" A winner-takes-all economy that offers only limited access to the middle class is a recipe for democratic malaise and dereliction. "

" Profitability, growth, and safeguards against existential risks are crucial to strengthening a company's long-term prospects. But if these three factors constitute a company's 'hard power,' firms also need 'soft power': public trust and acceptance, won by fulfilling a company's social responsibility. "

" 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. "

" For all the opportunities that arise from the Fourth Industrial Revolution - and there are many - it does not come without risks. Perhaps one of the greatest is that the changes will exacerbate inequalities. And as we all know, a more unequal world is a less stable one. "

" 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. "

" We must address, individually and collectively, moral and ethical issues raised by cutting-edge research in artificial intelligence and biotechnology, which will enable significant life extension, designer babies, and memory extraction. "

" I am a great enthusiast and early adopter of technology, but sometimes I wonder whether the inexorable integration of technology in our lives could diminish some of our quintessential human capacities, such as compassion and cooperation. "

" Europe has never had a single or unified voice in world affairs: a common foreign policy. It has often appeared to be rudderless and unable to make quick decisions when faced with economic crises, presenting instead an image of division and hopelessness. "

" 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. "

" Nelson Mandela understood that social transformation and economic transformation go hand in hand. "

Klaus Schwab

Hand

Transformation

" Of course, technology is not an exogenous force over which humans have no control. We are not constrained by a binary choice between acceptance and rejection. Rather, the decisions we make every day as citizens, consumers, and investors guide technological progress. "

" The Fourth Industrial Revolution has the potential to empower individuals and communities, as it creates new opportunities for economic, social, and personal development. But it also could lead to the marginalization of some groups, exacerbate inequality, create new security risks, and undermine human relationships. "

" 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. "

" 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 believe that, if managed well, the Fourth Industrial Revolution can bring a new cultural renaissance, which will make us feel part of something much larger than ourselves: a true global civilization. I believe the changes that will sweep through society can provide a more inclusive, sustainable and harmonious society. But it will not come easily. "

" 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. "

" An overwhelming number of economists, international civil servants, and policy-makers argue that a fragmentation of the Eurozone would cause a new depression and massive wealth destruction around the world. It would also end the period of economic integration that has characterized world politics since the end of the Cold War. "

" The Millennials, a generation born digital, will have a much stronger impact on social behaviour than we currently assume. Global climate change and resource security will influence our lives in substantial ways. "

" It was a hallmark of Nelson Mandela's leadership that being open to change made him appear not weaker, but even stronger. "

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

" As the novelty of wearable tech gives way to necessity - and, later, as wearable tech becomes embedded tech - will we be deprived of the chance to pause, reflect, and engage in meaningful, substantive conversations? How will our inner lives and ties to those around us change? "

Klaus Schwab

Chance

Change

" 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. "