World Economic Forum poll points to a 'crisis of ethics and values'

A report by the WEF, in the run-up to its Davos Summit next week, claims that over two-thirds of people believe the current economic crisis is also a crisis of ethics and values. Only a quarter of people believe that large, multi-national companies currently have a "values-driven" approach to their sectors. The proportion rose to 40% for small and medium-sized businesses.

The WEF survey was based on responses from over 130,000 Facebook members across ten G20 countries: France, Germany, India, Indonesia, Israel, Mexico, Saudi Arabia, South Africa, Turkey and the United States. The full report - Values for a Post-Crisis Economy' can be accessed here: http://www.weforum.org/pdf/faith/valuesreport.pdf

Almost two-thirds of respondents believe that people do not currently apply the same values in their professional lives as they do in their private lives. When asked to identify the values most important for the global political and economic system, almost 40% chose honesty, integrity and transparency; 24% chose others' rights, dignity and views; 20% chose the impact of actions on the well-being of others and 17% chose preserving the environment.

Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, said the report underlines the need for a set of values around which our global economic institutions and mechanisms of international cooperation must be built:

"Our present system fails to meet its obligations to as many as three billion people in the world. Our civic, business and political cultures must be transformed if we are to close this gap. This is why the World Economic Forum is bringing world leaders representing all sectors of society together at the Annual Meeting in Davos-Klosters to rethink values underpinning the global system of cooperation."

The report also compiles editorials on the topic of values for the post-crisis economy from over 15 global religious leaders and faith organizations, including Rowan Williams, Archbishop of Canterbury, Mohammad Khatami, Bartholomew I, Ravi Shankar, David Rosen and Yukei Matsunaga.