Welcome To 2030! The Great Reset: Should You Be Worried, and Which Career Development Strategies Will Work Best In the Near Future?
August 16th 2021
The Origin Of The Term “The Great Reset”: Welcome To 2030
In the past few months, the phrase “You will own nothing. You will be happy” that appeared in the video ad of the World Economic Forum made the headlines and has electrified global opinion. The phrase was used to describe one of the 8 predictions featured in the official World Economic Forum campaign on the media.
It is also a paraphrase of the predictions of the world in 2030 made in 2016 by Klaus Schwab, the Founder and Executive Chairman of the World Economic Forum. He was not the only public figure who made projections for the future of the global economy on social media at the time. In 2017, Danish politician Ida Auken said on Twitter, “Welcome to 2030. I own nothing, have no privacy, and life has never been better.”
For the next few years, their words have been forgotten. But recently, after this year’s World Economic Forum in Davos in January 2021 took place and after the aforementioned video campaign was presented in the media, a whole new global conspiracy theory arose and provoked international debate.
The Great Reset: What Is It All About?
But what does the phrase “The Great Reset” even mean? Has Orwell‘s vision of a totalitarian society come to life? The global outcry around “The Great Reset” started right after the proposal presented at this year’s World Economic Forum in Davos in January 2021 by Canadian Prime Minister Justin Trudeau (who used the eerie keyword “reset” in his presentation). The proposal concerns restructuring the global economy in times of COVID-19 and is, in many aspects, controversial.
The proposal mostly concerned global cooperation between powerful governments and corporations to acquire and manage large datasets to protect the environment and achieve sustainability. It envisioned the so-called “Fourth Industrial Revolution.” In this new economy, citizens would rent (rather than possess) goods, using fossil fuels and producing carbon dioxide would be penalized, and world politics would work as an oligarchy between several countries rather than under the economic dominance of one country.
It is hard to overlook the fact that, next to the plans for protecting the environment, the proposal contained the concept of eliminating personal ownership — which is the basis of capitalism and the modern economy — on behalf of collective ownership. And this premise is what drew the attention of public opinion and stirred the discussion.
The Concept of Great Reset: The Caveats.
The “Great Reset” proposal was presented positively, namely as a way of equalizing chances in the world after the global pandemic. The Great Reset is supposed to be an alliance between the united leaders of the West and the East in reaction to the damaging impact of COVID-19 on the global economy. It is an initiative for the greater good aiming to rebuild the world together in a more enlightened fashion and make it a global village — where everyone is welcome and equal.
Well, that sounds great at first. However, what seems to be an idealistic plan at first glance, might become a Utopia in the long run. The concept of abolishing ownership is a purely Marxist idea. It goes against the ideals of personal independence introduced in the American constitution, as it makes citizens dependent on a greater power. Even if you own nothing and rent everything you use, someone remains the owner — whether it is an individual, the state, or some corporation.
In theory, “collective ownership” means that everyone co-owns everything. In practice, it usually boils down to the fact that those who are in power, own everything and the small folk own nothing. Political systems should be judged based on the outcomes, not the intentions — and the possible outcomes of the Great Reset are dim.
Let’s also remember that the Great Reset was not a bottom-up initiative coming from society, but rather, a system conceptualized behind closed doors by several world leaders and powerful figures coming from the financial world and powerful corporations.
A good example might be some of the African countries where ownership is controlled by collectives formed by the local governments and influential businesses. Their societies live in poverty and crime.
One can read more about the vision behind the Great Reset concept in the bestselling book entitled “The Great Reset” (2020) written by the major proponent of the concept, the aforementioned Charles Schwab (together with Thierry Malleret).
The Great Reset: The Plausible Scenarios.
No one knows how the Great Reset will pan out. No details are available to the public to date. The question is: are there no details because there is no detailed plan, or because everything is being said behind a closed door?
According to Reuters, there are no plans of abolishing private property before 2030 and it is only a conspiracy theory. According to Naomi Klein from The Intercept, the proposal is just “an attempt to create a plausible impression that the huge winners in this system are on the verge of voluntarily setting greed aside to get serious about solving the raging crises that are radically destabilizing our world.” In other words, it’s just fat cats chatting in front of the cameras to give an impression that they are doing something about a situation that spiralled out of control. While in fact, they do nothing.
So, what might the sentence “You will own nothing. You will be happy” mean in practice? Taking private property away from the owners and moving the ownership towards the state is highly unlikely. The more likely scenario is the picture in which citizens are indeed incentivized to rent goods rather than buying them to better protect the environment.
In the last decade, global online streaming services have replaced redundant hard copies of videos in every household. Similarly, in the future, we might also be willing to share cars, summer houses, and other goods in the name of sustainability. Perhaps, leasing a laptop would be cheaper or more economical than buying one. Et cetera.
Moreover, young people who enter the job market today, often cannot afford to buy properties, especially given the current prices in the housing market. If the government’s disincentive ownership of the real estate, (for example, by increasing the property tax) regulates the rental market (so that the rent cannot exceed the maximal legal amount) and increase inheritance tax to prevent accumulation wealth by rich families, it might prompt more people to choose rental instead of buying and holding properties.
And indeed, in such conditions, many young people could live a happy life as tenants. Not because they were oppressed to choose so, but because it is a handier and more economical option.
Mind that this solution would not give citizens equal chances for attaining wealth! An equity tax is already implemented in a few European countries, for instance, in Spain, Switzerland, and the Netherlands. And, the Netherlands has one of the biggest inequalities in wealth between the rich and the poor in the world. The reason is simple: the rich always stay rich, while for those who start their career paths in the middle class, it becomes increasingly hard to jump to the higher class as their wealth is systematically clipped year after year.
The scenario in which the governments will start taking away property from property owners is unlikely for one more simple reason: individuals and businesses are mobile. If among over 200 countries in the world, there is at least one country that does not join the “Great Reset” movement and doesn’t follow the Marxist policy, then all the businesses and all the wealthiest, best-educated individuals would line up to relocate over there. This country would become a world superpower overnight.
The Dark Side of Capitalism.
The inherent instability of capitalism as a system is yet another story. The balance in the macro economy is based on the circulation of resources fueled by economic incentives to work. In essence, resources are goods and services.
Lowering incentives to work by limiting private property and increasing taxes, would pull the society towards socialism and lower the overall productivity. But on the other hand, keeping high incentives to work by celebrating private ownership and limiting taxes, pulls the society towards aggressive capitalism in which the most productive individuals and businesses exponentially aggregate wealth.
The presence of economy-stimulating tax deductions, such as depreciation, or amortization (please also check out the difference between the two) allow the wealthy to lower their effective tax rates almost without limits. Unlike public opinion likes to think about it, increasing tax rates for the rich usually works the other way around. With a good lawyer at hand, there is always a way of effecting a so-called tax avoidance, which means restructuring the business, the accountancy, and the expenses in a way to legally lower the taxes. (not to confuse with illegal tax evasion)
In this situation, the abyss between the higher class and the poor gradually broadens. We are slowly heading in this direction. Now, in times of globalization and the Internet, the speed at which the wealthy get more wealthy has accelerated even further. Perhaps, the Great Reset is a desperate trial to regain balance before capitalism spirals out of control.
A Note On The World Economic Forum Itself.
To better understand what the flagship phrase “The Great Reset” coined by the World Economic Forum might mean in practice, it is good to also take a closer look into the World Economic Forum as an organization, and in particular, its funding sources.
As Sorelle Amore has recently pointed out on her YouTube channel dedicated to personal finance, the organization is funded by a consortium of over 1,000 corporations, including companies that have the highest impact on the structure of the Internet and the public opinion such as Apple, Google, or Meta (referred to on the WEF website as “Partners“). As such, it is a lobbying platform for large companies, facilitating their dialogue and collaboration with governments. And political decision-making based on lobbying never ends up well.
What does that mean to us, living in the shadow of the Great Reset? Well, on the bad side of things, we can expect that corporations will pull the governments in their direction and lobby for regulations that increase their profits.
On the good side of things though, corporations are unlikely to lobby for abolishing private property, as the whole concept of a corporation rests on it! Yes, they might lobby for renting rather than buying equipment under the slogan of “protecting the environment” if that’s more profitable to them. However, they are unlikely to lobby for socialism as a system!
The Spy Theories VS The Probable Reality.
We also need to take into account that the motivations of other people and groups of people, such as governments, are usually less grim than they seem at first. We live in an educated society with access to the Internet and know about fascism and socialism from history class. We live in times when we passed the escape point in terms of building decentralized Internet, also known as Web3. In these circumstances, the Great Reset as envisioned in spy theories is just unlikely.
Now, let’s compare these spy theories with the likely truth:
1. The main reasons for the increasing inflation.
Spy theory: Governments boost inflation to take savings from people. Also keeping low-interest rates to get people into a bull trap so that they all get mortgages and get wrecked once the interest rates go higher again.
Probable truth: Governments boost inflation to satisfy the populistic promises from the last government elections and discount the national debts and keep the economy (relatively) stable, low-interest rates to give people a chance to buy properties despite the inflation
2. The main reasons for rising interest rates up from the fall of 2021.
Spy theory: Making slaves from all the people who took mortgages a zero interest rates.
Probable truth: Trying to limit the crazy inflation rates that spiralled out of control.
3. The philosophy behind the “You will own nothing, you will be happy” slogan.
Spy theory: Abolishment of private property.
Probable truth: Giving young people a chance to live a good life despite high inflation and skyrocketing property prices by making rentals more affordable.
You can find more spy theories about the Great Reset in the brilliant YouTube episode by Russell Brand.
The Great Reset: Welcome To 2030!
In a summary, the dark scenario in which we experience a full-fledged Great Reset in which private property is abolished is highly unlikely. This scenario would serve no nobody. The funding bodies behind the World Economic Forum are capitalistic organizations. Moreover, we, as citizens of the world, also need private property to stay motivated to work.
Socialism often results in the tragedy of the common phenomenon. Namely, we will never care for public property as much as for our own. And, the government also consists of individuals who live on a high standard wouldn’t like to give away their possessions. All in all, the real “Great Reset” and abolishing private property is in no one’s interest, especially in times when the middle class lives on a comfortable level.
How You Can Prepare For The Possible “Great Reset” Scenarios.
As mentioned above, no one knows how the Great Reset will pan out in the long run. In times of global confusion, the only aspect that you can influence in your life is the way you make decisions. Or rather, the way you make investments, as making decisions means allocating your time and money.
And under the assumption that you are healthy, you can only invest your time and money in three possible things that can guarantee you safety and happiness in the long run. When brought to perfection, each one of them alone is sufficient to acquire a sense of safety in life. But of course, it is ideal to invest in all three aspects of your life at a time:
1. Hone Your Skills: Build Your Skillset Around Your Strengths and Becoming an Expert in at Least One Area.
No matter how the world will look in ten years, and whether there will be any private property at all, good specialists will be in high demand in the job market – more than ever before. Make sure that you work on your ability to perform deep work, and acquire at least one cutting-edge skill that is hard to replace by a simple piece of code, such as a deep understanding of a particular class of data, specialistic laboratory skills, the ability to write creative, deep, heartwarming essays, or the ability to empathize with others and sell face to face.
2. Build Bonds and Brand Yourself Consistently.
Remember that your network is your safety net. People whom you can count on are as essential for your sense of safety as your professional skills and your possessions! In times of crisis, most professionals fell into apathy and stopped making an active effort to maintain their professional contacts and friendships.
Don’t be one of them! Grab your phone and call ten of your friends, colleagues, and acquaintances today! Perhaps you will be the only person who gave them a call in the entire week. Make sure that you build real, deep connections with people rather than shallow, superficial contacts. Please find more networking tips in our article “Make Strategic Networking a Part of Your Career Development Plan: The Depth vs The Width of Your Network.”
Also, brand yourself consistently online. Determine what you are good at, discover your core competencies, define your core values, and talk openly about the causes you stand for. And, offer others your help and assistance accordingly. They will remember that very well after the crisis. They will.
3. Learn about the Economy and Make Diversified Investments.
As mentioned before, no one knows the future. To a large extent, your anxiety and confusion come from this natural uncertainty. With the Great Reset or without it, the rules of the macroeconomy and human psychology don’t change all that often.
So, do you feel you are fearful about the future? You will feel much better after you grab a few books dedicated to the global economy, learn the basics about the financial markets, and start saving and investing part of your savings. Also, watch out as many fake financial gurus hunt for victims on social media! Please don’t follow them and make your own decisions.
Solid resources dedicated to personal finance include:
(1) “Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!” by Robert Kiyosaki,
(2) “Think and Grow Rich: The Landmark Bestseller Now Revised and Updated for the 21st Century” by Napoleon Hill;
(3) “I Will Teach You To Be Rich” by Samit Rehti.
Mind that even in the worst possible scenario, in which the governments will indeed abolish private property (which has less than 1% likelihood), they can never take your skills and your genuine bonds with people from you. You will own whatever you will own. You will be happy.
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Please cite as:
Bielczyk, N. (2021, August 16th). Welcome To 2030! The Great Reset: Should We Be Worried, and Which Career Development Strategies Will Work Best In the Near Future? Retrieved from https://ontologyofvalue.com/welcome-to-2030-the-great-reset-should-you-worry-and-which-career-development-strategies-will-work-best/
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