This week, 2,500 of the world's richest and most powerful people will converge on a town in the Swiss Alps. They will spend the week listening to panel discussions on subjects such as the cost of living crisis and "rebuilding societal trust". In between, they will retire to private rooms to discuss multi-billion dollar deals.

This is the World Economic Forum, better known by the name of the town where it is held: Davos. It is an annual meeting of the global elite. 

Klaus Schwab, who founded the event in 1971, argues that this year's conference is "the most timely and consequential yet". A pile-up of "disruptive forces" including "war, epidemics and the climate crisis" he says, has made global cooperation more crucial than ever.

According to Schwab, this is the aim of Davos: to bring the world's most influential people together so that they can collaborate in solving global issues. Davos enthusiasts argue that it can promote a socially responsible approach to capitalism and leadership.

Not everybody has such a positive view. It has long been the focus of false conspiracy theoriesTheories that explain world events by blaming shady groups of powerful people operating in secret. Some conspiracy theories have a basis in fact, but many more of them are completely invented. What is more, they often play on dangerous prejudices such as antisemitism. It's worth being especially cautious and critical when you come across accounts that ascribe enormous agency to small and secretive groups. that portray attendees as a sinister secret society who gather to make evil plans.

Such theories have no basis in fact. But some more serious and informed critics still think the culture of Davos is destructive.

One such critic is journalist Peter Goodman, whose book Davos Man is a portrait of the kinds of people who attend Davos, such as Amazon founder Jeff Bezos.

Billionaires like this, he says, are an "effectively statelessNot belonging to a particular state. Very rich people have homes, financial interests and often citizenship in many different parts of the world." class who cannot be held accountable by any government. He finds them guilty of "amassing monopolyWhen one company or individual controls a service or resource, this is called a monopoly. It is often thought of as a problem because it means that there is no competition, allowing the holder of the monopoly to behave in ways that do not benefit consumers. power and applying it to crush competitors; relentlessly squeezing workers for productivity; and gaming the tax systemOften very rich people pay almost nothing in tax by choosing where to store and invest their money. In cases where this is legal, it is called tax evasion. When it is illegal it is called tax avoidance. to avoid surrendering money to the government".

Criticisms like this have gained force over the last two years. During the Covid-19 pandemic, the world's richest ten people doubled their collective wealth from £700bn to £1.5tn. At the same time, most countries have experienced severe economic troubles, with 160 million more people descending into poverty.

Some critics have praised the book, but others say that its portrayal of "Davos man" is unfair and unrealistic. "He'd be terrifying," wrote one "if he existed".

Yes: Millions are starving as hoards of wealth rot in the secret bank accounts of the super-rich. They won't solve the world's problems by hobnobbing in the Alps for the simple reason that they are the cause.

No: There's a reason these people are rich: their brains and ambition have led to innovations that we all rely on. If they can apply those same skills to the crises we face then the world will be all the better for it.

Or... This whole debate focuses too much on individuals. What really matters is the political and economic arrangements that allow problems like climate change and poverty to persist.