The great reset needs the circular economy to render all products as services in order to advance the “you’ll own nothing and you’ll be happy” agenda. According to the Davos Agenda blog post “8 Predictions for the World in 2030,” the very first prediction states, “all products will have become services” thanks to the circular economy.
With the circular economy, there is a heavy emphasis on recycling and reusing materials instead of using them once and throwing them away. But beneath the surface, the circular economy’s Product as a Service business model ensures that you and I will truly own nothing while corporations retain ownership of all products they rent out to us as services.
Powering the move towards a circular economy is the so-called fourth industrial revolution, which will lead to the fusion of our physical, biological, and digital identities a new era of transhumanism. According to WEF founder Klaus Schwab, the Fourth Industrial Revolution will impact every aspect of our lives. He says that in order to thrive within this new global dynamic, we need to adopt new business models and norms.
Another major component of the great reset is the concept of ESG, which stands for Environmental, Social, and corporate Governance. Businesses that have a low ESG score will not receive funding and will be shunned by stakeholders for having things like a high carbon footprint, or not having enough diversity or social justice initiatives.