What does the annual World Economic Forum schmoozefest at Davos actually achieve?

Precious little, says Bloomberg's Michael Lewis in his piece Davos Is for Wimps, Ninnies, Pointless Skeptics.

"Davos is where people with no talent for risk-taking gather to imagine what actual risk-takers might do. Davos Man needs to sit in judgment; Davos Man needs to brood. So great is this need that he will brood about virtually anything, no matter how little he knows about it...So why do these people waste so much of their breath and, presumably, thought, with their elaborate expressions of concern? Even if these global financial elites knew something useful that you and I don't - that, say, 50 hedge funds were about to go under and drag with them half the world's biggest banks along with a third of the Third World - they would be unlikely to do anything about it."

The event that really summed up the pointlessness of Davos was the sumptuous dinner held to discuss malnutrition. As the BBC noted, empty rice bowls were probably not on the menu. And not a beggar in sight outside.

Indeed, the big issue at Davos might be: "What's to eat?", reports Bloomberg.

So what's the point of bringing together the world's most powerful people who directly or indirectly control the price of our homes, cars and food, and have a role in shaping the state of our climate, media and security?

One very good reason. As German steel magnate Jürgen Großman told Deutsche Welle, it's all about networking and drumming up business.

Dressed up to look like you're saving the world.