As a former treasury minister, I understand how markets can be used to benefit people around the world. We recognised that public funding, and specifically aid, alone could not solve all of the challenges faced by developing world countries. There was a clear need to harness private sector capital and expertise.

A picture of a chipper David Cameron enjoying dinner with Boris Johnson and the chancellor, despite being forewarned of the dire state of the economy,...

At a session on European competitiveness yesterday the starkness of Europe's future was clearly exposed. A chart was shown that showed US per capita income steadily pulling way ahead of Europe's which has now been overtaken by South Korea.

As the global elite don snow boots for Davos, those of us tramping through the slush at home will wonder 'what's Davos got to do with me?' I say two things: 1) the UK has always been a great trading nation and, 2) the UK is a modern day cultural superpower. We're up to our boot-tops in the global economy and our language, education system and creativity are in massive demand to drive global growth and prosperity. And we all have a stake in that. Because what our politicians and business leaders are discussing on our behalf is a near universal need to tighten our belts.

Davos has started. And the search is on again for what will be the defining new wisdom to emerge from this year's rash of seminars, lectures, parties and closed meetings in the Swiss mountain town.

This year, the elites in Davos - debating the future of capitalism - faced a little more self-doubt than usual as to whether they have the best ideas to run the world, not least in the face of the intractable euro crisis. But the future of capitalism is just one big global challenge among many facing today's world including climate change, poverty, conflict, instability and oppression.

That business should have a voice in global governance initiatives is not being disputed here. What is being disputed is whether we should place our trust in an organisation funded primarily by those interests to deliver a vision of the most equitable and inclusive of global governance frameworks.

In case you hadn't noticed, the annual gathering of the transatlantic power elite took place in St. Moritz in June and passed by without too much fuss. Sure, awareness of Bilderberg is increasing, and the crowds outside the event grow each year, but as the glare of publicity shines with increasing intensity on this bastion of elite networking and exclusivity, a number of important things become clear.