Are social pacts still viable in today’s world of work?
This study examines the role of social pacts, from the early 1970s to the present day, in promoting economic growth and equitable distribution, as illustrated by national case studies from Africa, Asia, Europe and Latin America. It argues that social pacting has recently undergone a profound crisis, linked in particular to the unilateral policy reforms adopted in response to the sovereign debt crisis in Europe. The authors suggest that current political economic developments, however, may once again be creating conditions more favourable for the conclusion of social pacts. The study concludes with some reflections on the possible future role of social pacts in the ever-changing world of work.