Klaus Schwab
Klaus Schwab
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Full Name and Common Aliases
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Klaus Martin Schwab is a renowned German economist and founder of the World Economic Forum (WEF).
Birth and Death Dates
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Born: 1938, Ravensburg, Germany
No public record of death date
Nationality and Profession(s)
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Nationality: German
Profession(s): Economist, Businessman, Author
Early Life and Background
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Klaus Schwab was born in Ravensburg, Germany, in 1938. His early life was marked by the turmoil of World War II, which had a significant impact on his family's business. After the war, Schwab's father rebuilt their metal export company, EnBW (Energie Baden-Württemberg), into a thriving enterprise. This experience instilled in Klaus a strong work ethic and entrepreneurial spirit.
Schwab studied mechanical engineering at the University of Stuttgart before pursuing a doctorate in business administration from the University of Zurich. He later earned his habilitation at the University of Fribourg, Switzerland.
Major Accomplishments
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Klaus Schwab's most notable achievement is founding the World Economic Forum (WEF) in 1971, an annual gathering of international business leaders and politicians that promotes economic growth and global cooperation. Under his leadership, the WEF has grown into one of the world's premier platforms for global decision-making.
Notable Works or Actions
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Schwab has authored several books on economics, politics, and global issues, including:
The Global Competitiveness Report, an annual report that assesses the competitiveness of countries worldwide
The Fourth Industrial Revolution, a book exploring the impact of technological advancements on society
Impact and Legacy
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Klaus Schwab's influence extends far beyond his work at the WEF. He has been instrumental in shaping global economic policies, fostering international cooperation, and promoting sustainable development.
As a thought leader, Schwab has:
Promoted dialogue between business leaders, politicians, and civil society to address pressing global issues
Fostered innovation and entrepreneurship through the WEF's various initiatives and programs
Helped establish the concept of globalization, encouraging countries to collaborate on economic mattersWhy They Are Widely Quoted or Remembered
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Klaus Schwab is widely quoted and remembered for his:
Visionary thinking on global issues, such as climate change, inequality, and technological advancements
Leadership in promoting international cooperation, which has contributed to numerous economic and social achievements worldwide
Influence on business leaders, who have come to rely on the WEF as a platform for networking, idea-sharing, and collaboration
Schwab's dedication to creating a more interconnected and prosperous world has left an indelible mark on global affairs.
Quotes by Klaus Schwab
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.
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.
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.
An overwhelming number of economists, international civil servants, and policy-makers argue that a fragmentation of the Eurozone would cause a new depression and massive wealth destruction around the world. It would also end the period of economic integration that has characterized world politics since the end of the Cold War.
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.
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.
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.
I like, very much, nature. Since I'm always together with people, I like to retreat.
When the World Economic Forum was established in 1971, the global population was four billion, of which 50% lived in poverty.
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.