The Spirit of Davos: Can Schwab’s ‘Stakeholder Capitalism’ Survive a Fragmenting World?
As the 56th World Economic Forum approaches, leaders prepare to meet in Switzerland to tackle the dual challenges of AI ethics and global trade uncertainty
- "Stakeholder Capitalism," the founding philosophy of the World Economic Forum (WEF) conceived by Klaus Schwab, argues that corporations are responsible to all stakeholders (employees, communities, suppliers), not just shareholders.
- This model is currently being tested by a "fragmenting world," with the upcoming 2026 Davos meeting focusing on two key challenges: geopolitical instability rewriting global trade rules and the need for ethical consensus on AI.
- The WEF aims to counter these fragmenting forces by reviving the "Spirit of Davos"—an ethos of collaboration and dialogue—to restore cooperation and prevent further division in the global economy.
As the 56th World Economic Forum approaches, leaders prepare to meet in Switzerland to tackle the dual challenges of AI ethics and global trade uncertainty.
In the early 1970s, against a backdrop of Cold War tensions and a global oil crisis, a German economics professor conceived a philosophy that would go on to redefine modern industry.
That philosophy—"Stakeholder Theory"—posited that a corporation’s duty extended far beyond its shareholders to include its employees, suppliers, and the very communities it inhabits.
Today, that vision of a socially responsible "Stakeholder Capitalism" remains the bedrock of the World Economic Forum (WEF).
Reporting by Krungthep Turakij's journalist Pranee Muenphangwaree, it is clear that as the forum enters its 56th year, the "Spirit of Davos" is being called upon once again to navigate a world facing unprecedented technological and environmental upheaval.
A Legacy of Diplomacy
Prof Klaus Schwab, an engineer and economist, founded the WEF in 1971 as a non-profit foundation.
He chose the Alpine heights of Davos as a symbolic retreat from the mundane, inspired by the "Magic Mountain" of Swiss culture.
Over the subsequent five decades, the forum has acted as a silent midwife to history: preventing conflict between Greece and Turkey, facilitating the end of Apartheid, and launching global immunisation programmes that have reached over a billion children.
Despite its achievements, the forum has frequently faced accusations of being an elitist "talking shop."
However, Schwab has long maintained that such dialogue is the essence of democracy. The goal of Davos is not merely to talk, but to bring together CEOs, activists, academics, and the youth to address a shared future.
The 2026 Agenda: A Planet at Boiling Point
The upcoming 56th Annual Meeting, scheduled for 19–23 January 2026, arrives at a critical juncture.
The theme, "The Spirit of Dialogue," reflects a desperate need for cooperation as the rules of global trade are being rewritten by geopolitical instability and shifting markets.
Two primary forces dominate the 2026 programme:
The Technological Frontier: Rapid breakthroughs in Artificial Intelligence and biotechnology offer immense growth but require a global consensus on ethical safeguards.
The Geopolitical Climate: As international relations reach a boiling point, the forum seeks to restore the "Spirit of Davos"—an attitude of openness and collaboration—to prevent further fragmentation of the global economy.
