The gathering of super-rich ended in Davos without any unexpected results. As expected, the conference was a blend of blames and accusations and in the end, everyone agreed to disagree and this has been the result of almost all the previous editions of these conferences. The rich were busy to repeat their old slogans that overall economy of the world has improved and poor nations need to look at the brighter side of the picture. On the other hand, both inside and outside the conference, there were large number of angry people who were getting almost violent on the frightening situation of unemployment, inflation and the widening gap between the conditions of rich and poor.

But this conference was badly needed as the world economy has failed to recover from its economic disaster continuing from 2008 and it stems back to the decisions made after 9-11. The decision of opening wars one after the other by the key economies of the world had negative effects on their economies and of course, to the rest of the world, which are directly or indirectly, get affected from the prime economies of the world. Eyes of the world were beamed on the prime economies of the world to make decisions to change the present scenario but unfortunately, they were not ready to give up the privileges that they take for granted and this mindset has not left any room for changing the present scenario of world economy.

When the conference was in progress, different debates were in progress on the media. Majority of the economists were of the view that major economies of the world should shoulder more responsibility in taking the world out of this disaster as their selfish moves and decisions brought the world to the present day miseries. On the other hand, there were also present some experts who were busy in defending the international powers. An advertising video of a program on CNN gave the facts that in last ten years, the world economy has expanded and grown almost double in its size, the overall poverty has decreased and there are mixed views around the world about the opinion of people about this progress. The statistics shown in this regard may be true. But the ground realities are also equally painful. According to Forbes, the number of billionaires are increasing briskly around the world but living standard of majority of people have sharply declined throughout the world. In the same way, the earnings of lower and middle classes have considerably decreased when compensated with the increasing inflation.

In past, the conditions of billions of people living in Africa and Asia were really miserable and majority of them lived under unbearable and unimaginable poor conditions but they were never given much importance as the majority of people living in America, Europe and a number of Asian countries were having good income to support their expenses and they lived quite comfortable lives but it is not the situation today. From time to time, we witness protests in developed nations of Europe like Greece, Spain, Italy, and even France and general public is very much distressed in the United States. The economic bailout packages for Greece and a couple of other countries in Europe was meant to save these economies from complete failure and bankruptcy. An average American today is suffering a lot to make its ends meet and majority of them complain of the shrinking public facilities to the public. In the same way, a number of European countries have cut down so many facilities to their citizens that were provided in free in past. In such conditions, it remains almost impossible for the world economies to remain silent when alarming bells are ringing near their ears.

Statistics show that world economy has increased considerably in its size in last ten years but it is also a fact that, after 9-11, the whole world economy has turned into a war-time economy and the boom it experienced is mostly artificial. The war-time economy is useful only after a country becomes absolutely destroyed due to a war and immediate spending are made to invent artificial economic activities and expansion but this strategy cannot be used in a long run or on permanent basis. The war expenditure of trillions of dollars in Afghanistan, Iraq and a number of other countries of the world could have resulted in considerable change in the economies of these countries only but such a strategy can be even dangerous at certain situations when it is employed as a regular strategy in normal conditions. In the same way, the artificial economic boom of post 9-11 era brought an economic disaster in 2008 but no lessons were learnt from this and once again, the artificial economic boom trend was supported in almost all the economies of the world and at present, large numbers of countries are suffering badly from this meaningless economic strategy.

In these years, one fact has become absolutely evident to all. The world economies are now controlled by large corporations and they are so strong and powerful that even the governments are not able to oppose their plans. They have such influence everywhere that they are able to alter legislation for their own benefits. In the artificial economic boom after 9-11, these corporations made billions of dollars and their executives and shareholders brought into their hands unbelievable amount of money. For these corporations, only objective is to make money and this is possible by violent expansion, be it natural or artificial. When it was revealed that some limited number of corporations were responsible for the collapse of the world economy in 2008, no action was taken against these corporations and they are still left free to play with the fate of billions of people living in different corners of the world who are affected either directly or indirectly from their decisions.

Very unfortunate is a fact that these corporations only believe in making more and more profit and they don’t believe in any ethics that can restrict their voraciousness for more and more revenue and income. In the same way, they have tied the hands of law as well by controlling the legislators and there seems to be no power on earth to stand in front of them.

It is also a fact that international powers, especially, US, the Britain and their allies that make almost two-third of the world economy have spent more of their energies on war and not on development projects. Even if there were development projects in the war-torn countries of the world, they were to compensate for the disaster made by their own war. At present, when the world is burning with the heat of war that can be termed the biggest after WW2, the trend of war spending is likely to continue for many decades to come.

Keeping in mind these facts, such conferences and meetings would be meaningless until the influence of international corporations are not restricted and world powers vow to stop using war as a tool to boost up their economies.