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Mon Jan 28, 2013, 02:01 PM

It's inequality, stupid


What the great and the good in business will not be discussing at the Davos summit.

26 Jan 2013

Amsterdam, The Netherlands - Billions of people would apply the Groucho Marx rule to Davos - the exclusive club meeting in the Swiss Alps allegedly gathering the great and the good of business; "I wouldn't want to belong to a club that accepts me as a member".

Well, to start with, those billions wouldn't get past the bouncers, because the pompously self-defined World Economic Forum is indeed about exclusion. Yet even if - by divine design - they might, what's the point?

The austerity mantra devastates large swathes of Europe. The US remains mired in the fiscal cliff maelstrom. The Japanese are about to unleash an economic tsunami - devaluation of the yen at all costs.

Double-dip recession rules.

On the other hand, growth does apply to parts of the BRICS group of emerging nations, and even more to some selected members of the N-11 (the mini-BRICS in the making); certainly Indonesia, Mexico, Philippines, Turkey, South Korea and Vietnam.

remainder: http://www.aljazeera.com/indepth/opinion/2013/01/201312612182907642.html

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