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November 2010
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International Labour Review, Vol. 149 (2010), No. 2
Global crisis and beyond: Sustainable growth trajectories for the developing world
24 November 2010
Despite recent signs of output recovery, casual resumption of the growth model that crashed in 2008–09 will exacerbate the domestic and global imbalances that caused the crisis in the first place – to the detriment of the real economy, equitable development, and employment recovery. The model’s environmental unsustainability is also evident. The author therefore argues for a broad policy agenda including reform of the international financial system, development strategies re-focused on wage-driven domestic demand and viable agriculture, fiscal promotion of greener technologies and demand patterns, and redistributive social policies to reduce inequalities and act as macroeconomic stabilizers in downturns.
August 2010
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International Labour Review, Vol. 149 (2010), No. 2
A legal perspective on the economic crisis of 2008
24 August 2010
The 2008 global financial meltdown was the symptom of an underlying crisis in law and institutions caused by the neoliberal utopia of Total Market –“scientific” depoliticization of the economy, full commodification of labour, land and money, and all-out competition, with even legal systems subject to “law shopping”. Financial markets were so successfully deregulated, they were the first to collapse: taxpayers are now paying the bills. But the markets for natural and “human resources” are also at risk. In the spirit of the 1944 Declaration of Philadelphia, Supiot argues, the rule of law must be reinstated to end human subordination to economic efficiency.
October 2008
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Statement
Sustainable Recovery and Shaping a Fair Globalization - Statement of the ILO Director-General to the fall meetings of the International Monetary Fund and the World Bank
10 October 2008
Statement by Mr Juan Somavia, Director-General of the International Labour Office, to the International Monetary and Finance Committee and Development Committee - Washington, DC, 10-11 October 2008