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" Receiving an economic boost from the digital era is not a luxury - it is essential to ensuring that Europe continues to grow and deliver levels of prosperity that meet the rising expectations of its citizens. "

Klaus Schwab

Rising

Luxury

Meet

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

" 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. "

" Of course, some people call me one of the most well-networked people in the world, but I am a very unsocial person - I never go to a cocktail party; I am never seen at a charity event. I have one exception: I'm a member of the board for one of the big European music festivals, so I participate, with pleasure, in concerts. "

Klaus Schwab

I Am

Charity

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

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

" Diversity does not preclude political stability. "

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

" 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. "

Klaus Schwab

Research

Late

" 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. "

" 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. "

" 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. "

" 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 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. "

" 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. "

" 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. "

" 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. "

" 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. "

" 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. "

" As the physical, digital, and biological worlds continue to converge, new technologies and platforms will increasingly enable citizens to engage with governments, voice their opinions, coordinate their efforts, and even circumvent the supervision of public authorities. "

" 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

" 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. "

" For many years prior to the 1990s, European integration was embraced and supported by a large majority of citizens. A united Europe, bound by commonly-held democratic values, was perceived as an essential and effective buffer against the Soviet empire. A united Europe made a repeat of the First and Second World Wars almost unthinkable. "

" 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. "

" 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. "

" 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. "

" 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. "

" 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. "

" 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. "

" 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. "