John McDonnell Set to Go to the World Economic Forum in Davos to Explain Why Capitalism is Failing

Photo by Garry Knight/Flickr

John McDonnell, an avowed anti-capitalist, is set to go to the World Economic Forum in Davos in order to inform the assembled world leaders and billionaires why the economy of the market has failed.

Today, his spokesperson said that the shadow chancellor had been asked to attend the annual event in the Swiss mountains and he “will use the opportunity to set out why it is vital we rewrite the rules of the global economy.”

The spokesperson stated: “He will further explain Labour’s vision for an alternative economic approach to replace the current model of capitalism that has failed the many; and led to an unsustainable concentration of wealth and power in the hands of a few.”

He added that McDonnell – who is set to attend alongside Donald Trump, the President of the United States – will “raise the problem of growing inequality across the developed world, and the need for countries and corporations to work closer together to clamp down tax avoidance and evasion.”

Over 2,500 people are anticipated to attend this year’s conference, including Theresa May, the British Prime Minister and Emmanuel Macron, the President of France.

The said move marks another point in the confused approach of Labour towards pursuing the business community.

In December, reports revealed that Labour was asking for a meeting with Morgan Stanley weeks after Jeremy Corbyn, the Labour leader, said that the bank was right to see him as a


In 2015, Corbyn implied that Davos was “a grand conspiracy by big business to interact with significant political figures” and he questioned “why Davos exists at all.”