The Great Reset as a Realistic Utopia—A Critical Stance from Critical Realism and Complex Systems Theory

Abstract

The Great Reset (GR) has been presented by the World Economic Forum (WEF) in response to the COVID-19 pandemic in 2022 as a model through which a “stakeholder economy” would achieve “resilient, equitable, and sustainable” social, economic, and ecological reform. The GR agenda includes environmentally sustainable use and more equitable distribution of resources. This article raises the question of whether the Great Reset program should be interpreted as a “realistic utopia” and what its reform potential is. To this end, the GR program is tested against the current state of science and philosophy. The idea of a utopia is analyzed in the light of recent philosophical and scientific approaches, such as critical realism in philosophy, social systems theory in sociology, and complexity theory in science. A comparative conceptual analysis is carried out by introducing the idea of a realistic utopia in Rawls’ theory of justice as fairness. In the final discussion, some doubts are raised about the logical coherence, rigor of scientific theorizing, policy prescriptions, and predictive potential of the Great Reset. It is concluded that utopian projects of radical reform are not realistic due to the supposed long-term repercussions of exogenous shocks or “black swan” events such as the COVID-19 pandemic. Rather, they must offer explanations of the deep structural elements and evolutionary patterns that underlie society and the economy, drawing from these explanations the policy implications, predictions, and prescriptions that can support change.