‘The aristocrats are out of touch’: Davos elites believe the answer to inequality is ‘upskilling’
“However, the World Economic Forum acknowledged that private-sector efforts would probably fall short. In a report released earlier this month, the forum estimated it would cost the United States $34 billion to reskill the 1.37 million workers expected to lose their jobs to automation in the next decade. The forum said 86 percent of the cost ‘would likely fall on the government.’ ‘Upskilling is not going to alter the insecurities and inequalities,’ said Guy Standing, author of ‘The Precariat: The New Dangerous Class,’ who spoke on four panels at Davos this year. He said most executives still don’t understand what is needed.”