Quotes from Klaus Schwab

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.

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.

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.

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.

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.

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.

It was a hallmark of Nelson Mandela's leadership that being open to change made him appear not weaker, but even stronger.

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

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.

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.

We must address, individually and collectively, moral and ethical issues raised by cutting-edge research in artificial intelligence and biotechnology, which will enable significant life extension, designer babies, and memory extraction.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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?

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.