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What is “The Great Reset” & Why are People So Worried About It?

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Never let a good crisis go to waste.

Winston Churchill’s famous words from the darkest days of world war 2 have taken on a more sinister meaning as the decades have passed.

This quote was actually meant to be an inspirational message of hope to the British people but these days more cynical onlookers see that people with ill intent can use a crisis, just as well as those who are virtuous.

The Great Reset is a collective name given to a series of economic policies that are attempting to use the recovery from the coronavirus as a way to supposedly build a better, brighter, more sustainable world.

This policy was first unveiled by the World Economic Forum and the United Kingdoms Prince Charles, and since this announcement, it has gathered support from a laundry list of economists, politicians, business people, and celebrities.

But it has also gathered a fair bit of criticism. Just 72 hours after it’s announcement a petition to stop it gained 80,000 signatures, which is kind of fair enough.

The whole premise of this proposal does sound very ominous. Economic plans titled the great something have not exactly had the best track record.

The fact that this plan is leveraging a disaster, alongside the fact that it is pushing some pretty spicy policies means that major conspiracies have been surfaced ranging from this plan will make us all poorer, all the way up to this plan will make us slaves to the lizard people.

Now in fairness, the marketing around this Great Reset has not helped its case at all. If someone was to try and research what this plan actually was they would be presented with two extremely bizarre adds that explain absolutely nothing, and a 2 hour panel, which was extremely boring even to a major economics nerd like myself, and also kinda equally as unhelpful.

We know this because well, we had to research this plan to make this video.

So it sounds like Some Economics need to be Explained

And to properly do this we are going to need to answer a few questions.

What is The Great Reset actually proposing to do?

Do these ideas have any merit?

Who are the players involved in pushing this agenda?

And is this actually a nefarious scheme or just the victim of terrible marketing?

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Comments

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  1. min 9:00 governments with forward vision? JA JA… governments are only concerned about the next election./////// The keystone of the "great reset" 3:55 " must include green conditions " is where the root problem is. This is something that has to pass parliament, not the world economic forum. This is something that actors, cello players and royals should not dictate. If the citizens do not want, ask or even care about this, guess what? SHUT UP! — We are not looking for "leaders" . We do not need "leaders". We are not children, we are not cattle to the herded. We are autonomous individuals that make our own choices, thank you very much. Go stuff your "leadership" in your own lives.

  2. This whole Great Reset thing would just make it seem to me that the whole pandemic was intentional and orchestrated if I were to be a conspiracy theorist, just saying

  3. 10:48 … that negative externality right there is what clouds are made of……..that's literal water vapor, and there's CO2…which is also part of the atmosphere and what plant "food" is made of… and their by-product is what we need to breath….to you know…stay ALIVE….so can anyone give me an argument as to why I would want less CO2 in the atmosphere and less capability to breath?

  4. To say this is like the Great Gatsby and being dismissive of this agenda makes clear that you aren’t aware of the WEF Event 201 pandemic exercise in Oct. 2019 and how that exact simulation preceded the Covid pandemic a few months later.

  5. infrastructure development often ends up being a financial liability when considered over its lifetime. Check out "Strong Towns" by Charles Marohn jr, I'd be curious to see how his interpretations of contemporary issues hold up under scrutiny

  6. Hey Economics Explained, since you touched the subject of ethical regulation not being the domain of businesses, I would love to hear your thoughts on the rise of ESG investing and reporting.
    EU has already mandated disclosure of ESG for public companies.

    Love your content, cheers from India!

  7. Something never said by Churchill ever: "Never let a good crisis go to waste." Many Churchill scholars have studied all of Churchill's speeches and texts and none of them can find any proof that this quote was said, or written, by Winston Churchill. Rather, this quote is often attributed to Raum Emmanuel, former Chicago mayor and former Chief of Staff to Barack Obama from 2008-2012.

  8. A better quote would be from the Austrian-British economist FA Hayek: “Emergencies have always been the pretext on which the safeguards of individual liberty have been eroded — and once they are suspended it is not difficult for anyone who has assumed such emergency powers to see to it that the emergency persists.”

  9. 9:00 "If governments had forward vision" we'd be in a much better spot. The one huge problem that many modern democratuc countries face, is that often, the plan only works until the next election and those elected afterwards have to deal with the fallout. Additionally, I feel like many people lack the foresight and willingness to give up short term direct benefits for long term indirect benefits.

  10. Carbon Tax is a poor tax. Energy is the highest expense for the working class. You're trying to incentivize us by making it more expensive to get to work and to heat our homes.

    Propane costs are up over 100% this winter, and, for the most part, that's the fuel used by the poorest of us.

    Forcing poor people to stay home and starve is not economically stimulating.

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