The annual meeting of the World Economic Forum, in Davos, Switzerland, was well under way when it officially commenced, early on a Wednesday evening in January, with an address, in the Congress Hall of the Congress Center, by Angela Merkel, the Chancellor of Germany. She had a lot to say about Europe. Some of it -- "Do we dare more Europe? Yes, we do dare" -- made the news. But outside the hall many Davos participants paid her no mind. They loitered in various lounges carrying on conversations with each other. They talked and talked -- as though they hadn’t been talking all day. They had talked while sitting on panels or while skipping panels that others were sitting on. "Historic Complexity: How Did We Get Here?," "The Compensation Question," "Global Risks 2012: The Seeds of Dystopia": over the course of five days, a man could skip more than two hundred and fifty such sessions.