bodyType

customContents

entityId

printArticlePageQuery

filter

article

body

urlAlias

articleSectionsContent

articleSeoArticle

articleSourceHeaderArticle

contentSchemaRenderContent

contentSubHeadlineContent

contentHeadlineContent

mainImagePrintArticleArticle

authorBlockPrintArticleArticle

contentSponsorTagContent

articlePianoPaywallContent

scmpYoutubeContent

hooksTrackPageViewArticle

query printArticlePageQuery(
  $entityId: String!
  $customContents: [CustomContentInput]
  $bodyType: BodyFormatTypeEnum
) {
  article(filter: {entityId: $entityId}) {
    entityId
    body(customContents: $customContents, type: $bodyType) {
      json
    }
    urlAlias
    ...articleSectionsContent
    ...articleSeoArticle_3o8td4
    ...articleSourceHeaderArticle
    ...contentSchemaRenderContent
    ...contentSubHeadlineContent
    ...contentHeadlineContent
    ...mainImagePrintArticleArticle
    ...authorBlockPrintArticleArticle
    ...contentSponsorTagContent
    ...articlePianoPaywallContent
    ...scmpYoutubeContent
    ...hooksTrackPageViewArticle
    id
  }
}

fragment articlePianoPaywallContent on Content {
  __isContent: __typename
  ...hooksPaywallPromiseContent
}

fragment articleSectionsContent on Content {
  __isContent: __typename
  sections {
    value {
      ...helpersCheckIfNewsSectionInFirstIndexSection
      ...entityLink
      name
      id
    }
  }
}

fragment articleSeoArticle_3o8td4 on Article {
  ...hooksArticleSeoArticle
  ...helpersCheckIsPostiesArticle
  ...helpersGetArticleTypeArticle
  entityId
  publishedDate
  updatedDate
  summary {
    text
  }
  subHeadline {
    text
  }
  body(customContents: $customContents, type: $bodyType) {
    text
  }
  keywords
  sections {
    value {
      name
      id
    }
  }
  topics {
    name
    entityId
    id
  }
  urlAlias
  authors {
    name
    id
  }
  images {
    style(filter: {style: "768x768"}) {
      url
    }
  }
  readingTime
}

fragment articleSourceHeaderArticle on Article {
  urlAlias
  ...entityLink
}

fragment authorBlockPrintArticleArticle on Article {
  ...defaultArticleDateContent
  ...authorNamesArticle
}

fragment authorNameAuthor on Author {
  ...entityLink
  name
  entityUuid
}

fragment authorNamesArticle on Article {
  authorLocations
  authors {
    entityId
    location
    ...authorNameAuthor
    id
  }
}

fragment blockquoteQuoteContent on Content {
  __isContent: __typename
  ...contentShareWidgetContent
}

fragment checkersCheckContentContainsStarlingImageContent on Content {
  __isContent: __typename
  topics {
    entityId
    id
  }
}

fragment contentHeadlineContent on Content {
  __isContent: __typename
  headline
  socialHeadline
  ...contentHeadlineTagContent
  ...helpersUseContentSponsorContent
}

fragment contentHeadlineTagContent on Content {
  __isContent: __typename
  ...hooksContentHeadlineTagContent
}

fragment contentNewsletterWidgetContent on Content {
  __isContent: __typename
  topics {
    relatedNewsletters {
      ...helpersMassageToNewsletterItemNewsletter
      id
    }
    id
  }
  sections {
    value {
      relatedNewsletters {
        ...helpersMassageToNewsletterItemNewsletter
        id
      }
      id
    }
  }
  ... on Article {
    relatedNewsletters {
      ...helpersMassageToNewsletterItemNewsletter
      id
    }
  }
}

fragment contentSchemaRenderContent on Content {
  __isContent: __typename
  ...blockquoteQuoteContent
  ...imageContent
  ...inlineWidgetContent
  ...photoGalleryWidgetContent
  ...scmpYoutubeContent
}

fragment contentShareWidgetContent on Content {
  __isContent: __typename
  entityId
  urlAlias
  shortUrl
  socialHeadline
  headline
}

fragment contentSponsorTagContent on Content {
  __isContent: __typename
  ...helpersUseContentSponsorContent
}

fragment contentSubHeadlineContent on Content {
  __isContent: __typename
  subHeadline {
    json
  }
  summary {
    json
  }
  ...contentSchemaRenderContent
}

fragment defaultArticleDateContent on Content {
  __isContent: __typename
  ...hooksArticleDateUtilsContent
}

fragment entityLink on BaseWithApplicationAndUrlAlias {
  __isBaseWithApplicationAndUrlAlias: __typename
  __typename
  entityId
  entityUuid
  urlAlias
  urlRedirect {
    toUrl
    id
  }
  application {
    entityId
    id
  }
  ... on Section {
    fullSectionPath {
      entityId
      id
    }
    parentSection
  }
  ...helpersAppBarVariantBase
  ...helpersApplicationBase
  ...helpersCheckIsPlusArticle
  ...helpersStyleSectionContent
}

fragment helpersAppBarVariantBase on BaseWithApplicationAndUrlAlias {
  __isBaseWithApplicationAndUrlAlias: __typename
  ...helpersCheckIsLiveArticle
  ...helpersCheckIsPlusPage
  ...helpersCheckIsPostiesArticle
  ...helpersCheckIsPostiesPage
  ...helpersCheckIsPostMagazineArticle
  ...helpersCheckIsStyleArticle
  ...helpersSectionContent
  ...helpersStyleSectionContent
}

fragment helpersApplicationBase on BaseWithApplicationAndUrlAlias {
  __isBaseWithApplicationAndUrlAlias: __typename
  ...helpersCheckIsPostiesArticle
  ...helpersCheckIsPostiesPage
  ...helpersCheckIsPlusPage
}

fragment helpersCheckIfNewsSectionInFirstIndexSection on Section {
  name
}

fragment helpersCheckIsAmpEnabledArticle on Article {
  entityId
  types {
    value {
      entityId
      id
    }
  }
  sections {
    value {
      entityId
      id
    }
  }
  disableOffPlatformContent
  sponsorType
  published
  ...helpersCheckIsPlusArticle
  ...helpersCheckIsPostiesArticle
}

fragment helpersCheckIsLiveArticle on Article {
  flattenTypeIds
  liveArticle {
    status
    id
  }
}

fragment helpersCheckIsMainTopicContent on Content {
  __isContent: __typename
  topics {
    entityId
    id
  }
}

fragment helpersCheckIsPlusArticle on Content {
  __isContent: __typename
  ... on Article {
    paywallTypes {
      entityUuid
      id
    }
  }
}

fragment helpersCheckIsPlusPage on Page {
  urlAlias
}

fragment helpersCheckIsPostMagazineArticle on Article {
  sections {
    value {
      entityId
      id
    }
  }
}

fragment helpersCheckIsPostiesArticle on Article {
  sections {
    value {
      entityId
      id
    }
  }
}

fragment helpersCheckIsPostiesPage on Page {
  urlAlias
}

fragment helpersCheckIsStyleArticle on Content {
  __isContent: __typename
  sections {
    value {
      entityId
      id
    }
  }
}

fragment helpersGetArticleTypeArticle on Content {
  __isContent: __typename
  ... on Article {
    types {
      value {
        entityId
        id
      }
    }
  }
}

fragment helpersMassageToNewsletterItemNewsletter on Newsletter {
  entityId
  name
  alternativeName
  description {
    text
  }
  summary {
    text
  }
  homepageDescription {
    text
  }
}

fragment helpersSanitizeArticleTypeEntityIdsArticle on Article {
  types {
    value {
      entityId
      id
    }
  }
}

fragment helpersSanitizeAuthorTypesArticle on Article {
  authors {
    types
    id
  }
}

fragment helpersSanitizedAuthorEntityIdsArticle on Article {
  authors {
    entityId
    id
  }
}

fragment helpersSectionContent on Section {
  fullSectionPath {
    entityId
    id
  }
}

fragment helpersStyleSectionContent on Section {
  fullSectionPath {
    entityId
    id
  }
}

fragment helpersUseContentSponsorContent on Content {
  __isContent: __typename
  topics {
    entityId
    sponsor {
      ...sponsorTagSponsor
      name
      type
      id
    }
    id
  }
  ... on Article {
    sponsorType
  }
  ...helpersCheckIsMainTopicContent
}

fragment hooksArticleDateUtilsContent on Content {
  __isContent: __typename
  createdDate
  publishedDate
  updatedDate
}

fragment hooksArticleSeoArticle on Article {
  ...helpersCheckIsPostiesArticle
  ...helpersCheckIsPostMagazineArticle
  ...helpersCheckIsStyleArticle
  ...hooksContentHeadlineTagContent
  ...helpersCheckIsAmpEnabledArticle
  entityId
  headline
  socialHeadline
  types {
    value {
      entityId
      id
    }
  }
  authors {
    entityId
    id
  }
  images {
    generic_og: style(filter: {style: "og_image_scmp_generic"}) {
      url
    }
    styles(filter: {styles: ["og_image_posties_article", "og_postmag", "og_image_style", "og_image_scmp_analysis", "og_image_scmp_explainer", "og_image_scmp_editorial", "og_image_scmp_fact_check", "og_image_scmp_debate", "og_image_scmp_live", "og_image_scmp_obituary", "og_image_scmp_opinion", "og_image_scmp_review", "og_image_scmp_series", "og_image_scmp_generic"]}) {
      url
      style
    }
    type
  }
  urlAlias
}

fragment hooksContentHeadlineTagContent on Content {
  __isContent: __typename
  __typename
  ... on Article {
    types {
      value {
        name
        entityId
        description {
          text
        }
        id
      }
    }
    ...helpersCheckIsStyleArticle
  }
  flag
  sections {
    value {
      name
      id
    }
  }
  ...hooksContentHelperContent
}

fragment hooksContentHelperContent on Content {
  __isContent: __typename
  ...helpersSanitizeArticleTypeEntityIdsArticle
  ...helpersSanitizeAuthorTypesArticle
  ...helpersSanitizedAuthorEntityIdsArticle
  flag
}

fragment hooksPaywallPromiseContent on Content {
  __isContent: __typename
  entityId
  ...helpersCheckIsPostiesArticle
}

fragment hooksTrackPageViewArticle on Article {
  entityId
  publishedDate
  headline
  sections {
    value {
      name
      id
    }
  }
  urlAlias
  authors {
    name
    id
  }
  entityUuid
}

fragment imageContent on Content {
  __isContent: __typename
  headline
  ...checkersCheckContentContainsStarlingImageContent
}

fragment inlineWidgetContent on Content {
  __isContent: __typename
  ...contentNewsletterWidgetContent
}

fragment mainImagePrintArticleArticle on Article {
  images {
    title
    url
    isSlideshow
    size_652x446: style(filter: {style: "652x446"}) {
      url
    }
  }
}

fragment photoGalleryDialogContent on Content {
  __isContent: __typename
  __typename
  ...contentShareWidgetContent
}

fragment photoGalleryWidgetContent on Content {
  __isContent: __typename
  ...photoGalleryDialogContent
}

fragment scmpYoutubeContent on Content {
  __isContent: __typename
  entityId
  urlAlias
  publishedDate
}

fragment sponsorTagSponsor on Sponsor {
  name
  type
  images {
    url
  }
}


sections

types

disableOffPlatformContent

sponsorType

published

headline

socialHeadline

authors

images

publishedDate

updatedDate

summary

subHeadline

keywords

topics

readingTime

authorLocations

entityUuid

Stephen J. Lyons

Divide and conquer – this strategy has worked for centuries. Americans’ full-throated participation is required as we blame each other for everything, from job losses to political defeats to the rising costs of living.
And, if we can’t condemn each other, then we can always turn on those invasive brown and black immigrants from what previous, twice-impeached US president Donald Trump called “sh**hole countries”.
Meanwhile, the real culprits, the cabal of greedy billionaires that manipulate the international economic system – and, consequently, the futures of the rest of us taxpayers – laugh all the way to the banks, which, of course, they also own.
Red versus blue. Democrat versus Republican. Rural versus urban. Educated versus the uneducated. In the same cynical manner that imperialists carved up Africa and the Middle East for pilfering, and in the same disastrous way in which England divided India after gutting its resources, the billionaires of this world will stop at nothing in their unquenchable desire to squeeze every last dollar from our beleaguered planet.
I hadn’t quite connected all the dots until I read Davos Man: How the Billionaires Devoured the World, Peter Goodman’s devastating examination of these male elites, who care not a whit for the future of democracy, the environment or sustainable living conditions.
Their loyalty is not to any particular country, unless it is a nation that can shelter their ill-gotten gains with low to non-existent taxes. In that way, these masters of the universe are stateless.
They gather every year in Davos, Switzerland, at the World Economic Forum, where they belch a smokescreen of save-the-world ideas while sipping champagne, schmoozing with A-list celebrities like the ever-present Bono, and devising ways to rake in more ill-gotten lucre.
Improving the world through their great wealth is simply lip service, or as Greta Thunberg describes Davos Man’s “commitment” to climate change, “three decades of blah blah blah”.
It’s not that Goodman’s book contains startling new information on how the rich cheat us, but it connects all the many dots into a coherent, if not depressing, narrative.

I am aware, for example, that Amazon’s Jeff Bezos, who paid no taxes last year, and who, in the spirit of Davos Man, continues to suppress the unionisation of his warehouse workers who toil under extreme conditions for US$15 an hour, has raked in US$87 billion since the beginning of the pandemic, bringing his net worth to US$200 billion, give or take a few hundred million.
I also knew that the 2008 foreclosure crisis created by banks like Citicorp and the insurance giant AIG led to handsome government bailouts, creating even more wealth for companies like Goldman Sachs, Morgan Stanley and JPMorgan Chase, a firm that once helped Bernie Madoff with his banking services.
Likewise, who among us could not notice how Trump’s 2017 cleverly titled “Tax Cuts and Jobs Act”, which lowered the US corporate tax rate from 35 per cent to a measly 21 per cent, would, according to the Tax Foundation, “cost US$1.47 trillion in decreased revenue [for the nation’s coffers] while adding only US$600 billion in growth and savings”?
Goodman writes, “three-fourths of the benefits from that reduction would be vacuumed up by shareholders, with the wealthiest 1 per cent of all households capturing the largest gains”. That includes the Trumps, the Kushners and most of his cabinet. No wonder Trump was feted and praised at the 2018 World Economic Forum.


As for these tax breaks leading to job creation – the so-called “trickle-down” theory – Goodman calls it a “fatuous idea”, proffered by Davos Man to disguise his own avarice.
He debunks “the alluring yet demonstrably bogus idea that cutting taxes and deregulating markets will not only produce extra riches for the most affluent, but trickle the benefits down to the lucky masses – something that has, in real life, happened zero times”.
The monetary manna from the US Treasury department (read, tax dollars) did not go towards job creation for ordinary folk. According to an article on the finance site The Balance, “the CEOs of Cisco, Pfizer, and Coca-Cola instead planned to use the additional cash to pay dividends to shareholders. The CEO of Amgen would use the proceeds to buy back shares of stock.”
What “trickles down” to working-class Americans is more odious: cuts to basic services such as welfare, public transport and affordable housing, adversely affecting the elderly, the unhealthy and uninsured, and, of course, the poor. Always the poor.
When even the mega-rich are embarrassed by their wealth, it’s time to act
What I did not comprehend until I read Goodman’s book were that the goals of Davos Man thrive in the kind of chaos, division and friction that define not only the United States, but also much of the world at the moment.
Goodman writes that, “the billionaires exploit governance that is compromised by discord and dysfunction as an opportunity to profiteer absent the usual checks and balances”.
So far, the divide and conquer playbook is working to perfection. Well, at least for Davos Man.
Stephen J. Lyons is the author of five books of essays and journalism. His newest is “West of East”


How billionaires are exploiting a world in crisis, and laughing all the way to the bank

Amazon’s billionaire founder Jeff Bezos pictured in Texas, US, after his flight to the edge of space on July 20, 2021. Bezos thanked Amazon workers after the flight, noting that they “paid for all of this”. Photo: Reuters

Amazon’s billionaire founder Jeff Bezos seen in Texas, US, after his flight to the edge of space on July 20, 2021. Bezos thanked Amazon workers after the flight, noting that they “paid for all of this”. Photo: Reuters

People rally in Los Angeles, California, in support of Amazon workers in Alabama who are attempting to unionise, on March 22, 2021. Many Amazon workers are demanding higher wages and safer working conditions. Photo: Reuters 

Opinion

Comment


It is no coincidence that as the world grows more embattled, billionaires are getting richer – this is how ‘Davos Man’ operates
Davos Man claims he will use his wealth to save the world, while devising new ways to exploit workers, avoid taxes and become ever richer



It is no coincidence that as the world grows more embattled, billionaires are getting richer – this is how ‘Davos Man’ operates. Davos Man claims he will use his wealth to save the world, while devising new ways to exploit workers, avoid taxes and become ever richer.


Millionaires and billionaires

Poverty

United States

World Economic Forum

Expresses the views, ideas and conclusions of the author. (Eg. Enough of Crazy Rich Asians, think of crazy poor Hongkongers.)


Opinion | How billionaires are exploiting a world in crisis, and laughing all the way to the bank

It is no coincidence that as the world grows more embattled, billionaires are getting richer – this is how ‘Davos Man’ operates Davos Man claims he will use his wealth to save the world, while devising new ways to exploit workers, avoid taxes and become ever richer

It is no coincidence that as the world grows more embattled, billionaires are getting richer – this is how ‘Davos Man’ operates

Davos Man claims he will use his wealth to save the world, while devising new ways to exploit workers, avoid taxes and become ever richer