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St. Petersburg International Economic Forum

The 27th St. Petersburg International Economic Forum took place in late June 2013.  The Forum brought together over some 2000 delegates, including heads of global major companies.

Dr Armen Sarkissian, President of Eurasia House, was an invited speaker in a televised debate on Global Growth, together with Nobel Laureate Amartya Sen, Harvard University Professor of Economics and Philosophy, Rector Vladimir Mau of the Russian Presidential Academy of National Economy and Public Administration, and others.

Moderated by Russia Today anchor Peter Lavelle, the panel dealt with the question on the “Crisis in Capitalism: Can the Modern Welfare State and Global Competitiveness Be Reconciled?” There is a growing trend of concentration of wealth at the top percentile, in both developed economies and major emerging markets, while in the West a stagnant middle class places growing demands on a burgeoning welfare state. The discussions focused on whether these strains are becoming a threat to future growth and straining the political fabric of capitalist societies.