The years leading up to the stock market crash in December 2008 were a classic example of an economic disaster that never should have happened. A minority of financial experts had cited obvious signs of a seriously weakening economy. Yet the leaders of our most prestigious financial institutions, and the government agencies that were supposed to regulate them, were oblivious to the dangers.
Read the article
The WTO faces an existential crisis, despite a reasonable outcome at the Twelfth Ministerial Conference. The one way by which the WTO can resuscitate itself is to make sure that the negotiating agenda is anchored in the SDGs rather than in the narrow interests of its most powerful members. The changing role of the State must also be factored in by the WTO.
Read South Centre’s policy paper
The Global South is enduring its worst debt crisis in decades. Unless there is immediate relief, any progress made on tackling extreme poverty risks being wiped out.
Read the paper by Grace Blakeley
The European Commission is not yet very clear on how it wants to ensure the involvement of social partners.
Christophe Degryse explains how and what
But then, what is needed?
Highest earning men aren’t especially intelligent. Why? – Big Think
On this World Day of social justice, ILO Director general explains why social justice is crucial for our future:
ILO Director-General – why we need greater social justice | The Future of Work Podcast
New research paper from the South Center:
The World Health Organization (WHO) should act as the directing and coordinating authority in global health but it has been steadily marginalized over time by design, through criticism as an inefficient organization, the reduction of assessed contributions and consequent impoverishment, and the proliferation of “new” international health agencies to which WHO has been compelled to cede operational space. This paper discusses how such marginalization of the WHO is in the interest of the dominant actors in global health, and leads to the neglect of health as a development issue. Today the global health system is more fragmented than it was when the WHO was established in 1948.
Ninety percent of global Small and Micro Enterprise (SMEs) business and more than fifty percent of all employment happens in the informal economy.
Often dismissed by the establishment due to its fluid and amorphous nature, it is clear that as South Africa and the continent battles high unemployment, especially youth unemployment, there is a huge opportunity for state and private sector support and investment into this sector.
Harnessing the energy that drives this thriving sector is a far more appropriate response than whipping it with punitive law enforcement. One of the best ways to begin would be to support the design of appropriate social security systems to enable enterprise owners and workers in the informal economy to build up financial security for the futures of themselves, their businesses and their families. Building social security builds Decent Work and better societies worldwide.
Read the article by Isobel Frye
An interesting ITUC report to learn about strategies for decent living wages
A few weeks ago, the world’s power brokers — politicians, CEOs, millionaires, billionaires — met in Davos, the mountainous Swiss resort town, for the 2023 World Economic Forum. In an annual ritual that reads ever more like Orwellian farce, the global elite gathered — their private jets lined up like gleaming sardines at a nearby private airport — to discuss the most pressing issues of our time, many of which they are chiefly responsible for creating.
The 2023 meeting was organized around the theme of “Cooperation in a Fragmented World” and the topics up for debate were all worthy choices: climate change, Covid-19, inflation, war, and the looming threat of recession. Glaringly missing, however, was any honest investigation of the deeper context behind such an epic set of crises — namely, the reality of worldwide poverty and the extreme inequality that separates the poor from the rich on this planet.
Read the article found in Inequality.org
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