What is The Great Reset?
Is it a “last” chance to “save the world”, or are we simply “clutching at straws” in the face of the approaching Perfect Storm? To put it plainly, The Great Reset is a complete “rebooting” of the global economic and financial systems, along with a holistic plan to remake what is not working and replace it with something sustainable and progressive. Of course, this concept of The Great Reset is not original, having been tossed around since the 1970s, when the first warning signs about the “failure” of the neoliberal policies were sounded. Moreover, ever since the debate over “climate change” has broken out, periodic attempts have been to “resurrect” the idea of The Great Reset. However, what is “new” now is the urgency we are facing in so far as the conventional models of our economic and financial are concerned.
So, is The Great Reset the “answer” to the world’s problems?
Is there a realistic chance of it succeeding? Yes! No crisis should be let go waste and instead must be used as an opportunity to “reform and rejuvenate”. More so, when the Pandemic and Putin have made it clear to all that our economies are not working as intended. Indeed, we need to eliminate this “race to the bottom” where only a few can make it and replace it with a “compassionate” Capitalistic model. In addition, we need to have a better “grip” on the future, moving beyond The Age of the Unexpected, where the “virality” of both the virus and tech-driven “acceleration” make us prisoners of “present shock”, a blinkered state, where the focus is on “immediate survival” without any concrete plans for the future, as uncertainty is the only certainty.
Is The Great Reset yet another Utopian promise that would fade away as soon as you finish reading this?
No! it is possible, and unlike The New World Order project that resulted in Dystopia and more disorder, The Great Rest can lead to a more “just and fair” world. Moreover, the “craziness” of the world we live in, where The Great Derangement has ensued with most of our economic and financial systems, is “divorced” from reality and does not have a relation to “fundamentals”, which means that we desperately need The Great Reset. A return to an asset-backed global financial system would do wonders, where “funny money” would be replaced with more tangible asset-backed money. In addition, the “wild” gyrations of markets, with their “manic” periodic highs and lows, will be a thing of the past, and the losses on account of senseless “selloffs” will be contained. The biggest benefit from The Great Reset would be on the lives of the poor, where instead of stock markets “booming” and real wages stagnating would not be the case.
Hasn’t The Great Reset been tried before and failed?
Maybe! But, the vital thing to remember is that the present state of a “nuclear winter” that is a “winter from hell” scenario can be avoided where cooperation would replace competition. Moreover, over-dependence on technology can be minimized, leading to more “connection” instead of disconnection at a time when it has made us all “junkies”. Perhaps the biggest reason we need The Great Reset is that the pandemic has left us with no choice but to reform our world. As the lawlessness, the weirdness, and the feeling of blues have left us all “frazzled”, and the bad aspects of the pandemic outweigh the good, it is time we changed and for good. Indeed, if there is anything that should “force” change upon us, it is our “collective failure” to withstand the successive “waves” of the virus due to our stupidity and obstinacy. So, there you go! We don’t have an option but to embrace The Great Reset!
Well! The annual talkfest, where the aforementioned gather in Davos, has been mulling over The Great Reset for some time now. Indeed, this year’s edition warned about the urgency of change due to the “darkened” economic environment. Moreover, there were mentions of an “alternative agenda” here and there. Even Klaus Schwab, the WEF (World Economic Forum), the entity that organizes the Davos meets, has been writing and speaking about The Fourth Industrial Revolution and The Digital Age. From our 9 to 5 workday and the 5 Day Workweek to the 24/7 working and WFH or Work From Home, Hybrid Work, and Virtual Businesses, there are many “faces” to the “transition” from the Smokestack (Industrial) to the Digital Age. So, there is enough traction to the idea of The Great Reset among the “people who matter”.
Are we ready for The Great Reset?
Very much! There are already pockets where these ideas have been tried and tested, so we need to “scale up” the concept for it to go universal. Climate Change has made it imperative to move beyond “normal”, and the pandemic has made us all hostages to an ever-changing “New Normal”. So, if we want the “normal” to be “normal” and not staring at the abyss each time, it is time for The Great Reset! Hopefully, we will get there in due course and ensure that the coming generations have a “real” shot at leading fulfilling lives. As it is, the Millennial/Gen Z “angst” is showing up in The Great Resignation and other things making many wonders “what’s with them”, and so, we owe it to them and vice versa to build a more habitable world and an equal economy. So, upwards and onwards to The Great Reset, an idea whose time has come.