From hubris to humility at WEF

If we needed reminding about why this week's World Economic Forum (WEF) is important, look at the pages of this newspaper. Job losses, bank write downs, economic collapse and no end in sight.

In previous years at Davos there has been the feeling that the delegates have been deciding the best way to improve the world; rarely tempered by doubts of failure or mistake. Now the errors, the failures, the disasters of decision making are as evident as the mountain itself.

So this year when some delegates sound off about what must be done, they might be met with, "You got us into this mess in the first place."

Klaus Schwab the founder of the WEF recognises this, telling me this year's forum will be "...more modest. People see that they have failed to a certain extent as leaders. Even in Davos &nobody was really listening".

Which begs the question why we are bothering to listen to these people again? Simple. They are the ones who have to get us out of the mess. S

chwab points out, "Take the bankers, they are part of the problem but they are also part of the solution so that's the reason we still integrate them here".

Klaus Schwab agreed that there had to be more humility at this year's forum. Ultimately he admits that means hearing bankers and leaders say "sorry".