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" 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. "
Klaus Schwab
Sometimes
Real
Looks
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" A winner-takes-all economy that offers only limited access to the middle class is a recipe for democratic malaise and dereliction. "
Klaus Schwab
Economy
Middle
Only
" 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. "
Klaus Schwab
Courage
Wisdom
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. "
Klaus Schwab
Revolution
Society
Believe
" 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. "
Klaus Schwab
Living
Feel
Born
" 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. "
Klaus Schwab
Now
Living
Find
" 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. "
Klaus Schwab
Community
Identity
Work
" When you can't cope with change, you feel overwhelmed, and you look for a simple solution. "
Klaus Schwab
Feel
Cope
Change
" 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. "
Klaus Schwab
Employees
Responsibility
Equality
" 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. "
Klaus Schwab
Country
Power
Technology
" 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. "
Klaus Schwab
Voice
World
Decisions
" 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. "
Klaus Schwab
Change
Impact
Influence
" 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
Me
Late
" 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. "
Klaus Schwab
Digital
Opinions
Supervision
" 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
" I like, very much, nature. Since I'm always together with people, I like to retreat. "
Klaus Schwab
Always
Like
Nature
" 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. "
Klaus Schwab
World
Opportunities
Revolution
" As technology increasingly takes over knowledge-based work, the cognitive skills that are central to today's education systems will remain important; but behavioral and non-cognitive skills necessary for collaboration, innovation, and problem solving will become essential as well. "
Klaus Schwab
Education
Today
Will
" 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
Me
" 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. "
Klaus Schwab
Water
Technology
Revolution
" When the World Economic Forum was established in 1971, the global population was four billion, of which 50% lived in poverty. "
Klaus Schwab
Economic
World
Poverty
" 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. "
Klaus Schwab
Change
Place
Business
" 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. "
Klaus Schwab
Power
Responsibility
Growth
" 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. "
Klaus Schwab
Create
Opportunities
Revolution
" Change can be frightening, and the temptation is often to resist it. But change almost always provides opportunities - to learn new things, to rethink tired processes, and to improve the way we work. "
Klaus Schwab
Learn
Tired
Work
" 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
Us
Chance
Change
" 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. "
Klaus Schwab
Lens
Responsibility
Business
" 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
" New technologies, however remarkable they might seem, are fundamentally just tools made by people for people. "
Klaus Schwab
Just
Seem
New
" Diversity does not preclude political stability. "
Klaus Schwab
Stability
Does
Political
" Nelson Mandela understood that social transformation and economic transformation go hand in hand. "
Klaus Schwab
Hand
Transformation
Go