It is time for technology to work for the people, instead of people being victimized by technology. Scientific and technical advances should not be confined to the wealthy few for their benefit, it belongs to all the people and should be used for the common benefit. There are fewer than 500 billionaires in the world while over 1.3 billion people live in absolute poverty. The summit will take up exactly these questions so it is imperative that labor be heard. Neto has witnessed the devastating effects of the global socioeconomic crisis first hand.
Brazil is rich in natural and human resources.
Yet, a large percentage of the population lives in misery. Neto said Brazil's biggest problem today is its enormous debt and the high interest attached to that debt. Servicing this debt diverts money from production which leads to plant closings, higher unemployment and poverty, and lower tax revenues and consumer spending. The government then borrows more money to finance the debt and pay for necessary government functions. It is a vicious cycle from which Brazil has been unable to escape.