24 25 26
May 2018
22 May
Arena

WILL TECHNOLOGY HOLLOW OUT THE GLOBAL MIDDLE CLASS?

16:00-17:15 Pavilion 4, Conference Hall 4.3


Growing trends in income disparity are a concern in both developed and major emerging economies. At the same time, it is estimated that USD 5–7 trillion of economic activity will be impacted by the automation of knowledge work over the coming decade. How might these technological advances put pressure on middle-class prosperity, and what steps can be taken to ensure economies possess both the competitive skills and the supporting social systems to maintain – or improve – broad-based affluence?


Moderator:
Simon Nixon, Chief European Commentator, The Wall Street Journal
Panellists:
Alexander Galitsky, Co-Founder, Managing Partner, Almaz Capital Partners
Dr. Fan Gang, Director, National Economic Research Institute (NERI); Chairman, China Reform Foundation
Hubertus von Grunberg, Chairman of the Board of Directors, ABB
Simona Marinescu, Director, UNDP Istanbul International Center for Private Sector in Development (IICPSD)
Vladimir Mau, Rector, Russian Presidential Academy of National Economy and Public Administration
Ozcan Saritas, Leading Research Fellow, National Research University Higher School of Economics; Editor-in-chief, Foresight: The journal of future studies, strategic thinking and policy
Pal Erik Sjatil, Managing Partner EEMA, McKinsey

Highlights

“Entrepreneurship is what we should look into. It can reduce the negative impact of labour-saving technologies on income and living standards.”

Simona Marinescu
Director, UNDP Istanbul International Center for Private Sector in Development (IICPSD)

“Middle class is not just [level of] income; it’s also lifestyle and type of behaviour. It is very resilient and adjustable, and will find a way to survive.”

Vladimir Mau
Rector, Russian Presidential Academy of National Economy and Public Administration

“Where you have too much regulation the compensatory effects of creativity and entrepreneurship will be hindered. Set the world free if you want to compensate for the effects.”

Hubertus von Grunberg
Chairman of the Board of Directors, ABB

“If we leave some things to the machines, then we will have a great opportunity to start being innovative and explore this aspect of ourselves. This could actually be a new Renaissance for humanity.”

Ozcan Saritas
Leading Research Fellow, National Research University Higher School of Economics; Editor-in-chief, Foresight: The journal of future studies, strategic thinking and policy

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