Colloquially known as “Davos” after the Swiss city where it is held, the WEF has recently shifted its message to reflect a softer image of social-justice-oriented capitalism. Despite these changes, it continues to be a bastion of power for the entrenched global capitalist elite.
The WEF is funded and run by 1,000 major global corporations, and its board consists of leading figures in international finance with the occasional international celebrity. Since WEF is a private institution with no government oversight of any kind, many critics argue that its meetings and agendas amount to an undemocratic layer of global politics and policymaking directly controlled by major corporate interests.
Recently the WEF has incorporated more nods to social and environmental justice in its programming, but this hasn’t reduced its commitment to keeping the capitalist status quo functioning for the benefit of elites.
