… thus neatly proving his opponent's point.

Today's City AM Forum asked "Davos 2016: As the world’s elites ready themselves to attend, is the yearly meeting a complete waste of time?"

Philip Booth laid out his good case for "yes", the key sentence being this:

"Indeed, the whole set-up seems designed to promote the status of “rent seekers” – powerful people in business and NGOs who wish to obtain favours from government."

In putting the case for "no", his opponent neatly illustrated the sort of thing Philip Booth means by "rent seeking":

"Many of the biggest intellectual trends are launched to the mass market at Davos. A few years ago, attendees were issued with fitness trackers, now every ambitious middle manager has one. Then it was mindfulness.

Who knows what it will be this year? The World Economic Forum is the most important salesroom in the world. It is where consultants, management gurus and political advisers go to push their wares. An invite to Davos boosts your day rate.

It is the Paris fashion show for the corporate world. What was on the runway yesterday is on the high street tomorrow. It is also where journalists go to get a sense of what the biggest trends in the world’s boardrooms will be. What people are talking about at Davos this week will become the management fads of a few years’ time."