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Murdoch: “Capitalism creates wealth”

News Corp chairman and CEO Rupert Murdoch (pictured) has used his role as co-chair of the 2009 World Economic Forum to issue a rallying cry to participants to overcome the current challenges.

Although the world still in crisis, according to the media mogul, we should treat it “as an opportunity to set goals for how we want to come out of it, such as energy sufficiency, world pollution ... and shape policies which will help to solve some of those problems.”

He also backed the market economics which have helped him to become one of the world’s richest and most powerful men. “Don’t let’s lose sight of what creates wealth; it’s open markets, capitalism and we’ve proved this again and again in last century,” he cautioned.

Professor Klaus Schwab, founder and executive chairman of the WEF, highlighted a tone that many family business leaders can relate to. “Only if we look at longer-term perspectives can we recreate trust in the economic system and in the future,” he said.

Murdoch’s fellow co-chair Anand Mahindra, vice-chairman and managing director of family-owned Indian conglomerate Mahindra & Mahindra, spoke of a need for the world to collaborate on the issues of the day.

“Davos fills the vital need for a global and dialogue-based platform where knowledgeable and empowered stakeholders can collaborate to address issues of common criticality,” he said

You can follow the news being made at the meeting by the leaders of some of the world’s most prominent family businesses right here on over the coming days.

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