Fretting About the Weather While Populism Rises

Published February 8, 2017 11:30am ET



Almost fifty years ago a professor at the University of Geneva formed a group that would become the World Economic Forum (WEF). You probably know it as “Davos,” named after the Swiss city that hosts its invitation-only annual meeting that draws 2,500 of the famous that want to be leaders like Leonardo DiCaprio, and the leaders that want to be famous like Xi Jinping, the president of China.

A year ago, at the January 2016 meeting of the global titans that imagine themselves setting the world’s agenda, they listed “Involuntary Migration” as the number one risk for the upcoming year. While it is true that 2016 saw significant migration—particularly from the Middle East to Western Europe—much of it was hardly “involuntary.” It was mostly opportunistic. But at the start of 2016, the WEF never saw Brexit or the Trump election coming. They failed to even acknowledge that a large portion of the middle class worldwide had been left behind and wanted change—or that a populist revolution with economic roots was growing worldwide.

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