WDEV trial: Get one week free access to all articles!


	Our new website address: www.wdev.eu

Home Mission Statement Subscriptions Sample Copies Services Blogs Background Links Archives

Monitoring G8 Europe Global The New South UN Reform Global Finance Doha Final

The global social crisis

The other side of the global financial crisis

The UN Department of Economic and Social Affairs’ (DESA) 2011 World Social Situation Report (WSS 2011) speaks of the “Great Recession” (p.13, 24, 26 ff). However, it does not refer to this evocative term in its two policy chapters (on Crises, fiscal space and national responses and on International responses). Given the severity of the 2008-2009 recession – the global economy contracted by 2% in 2009 – and the looming risk of a second dip in 2012 – this is a missed opportunity, and one needs to say upfront that the WSS 2011 lacks boldness and is unimaginative. By Gabriele Köhler

One would have hoped the UN seize the baton, use the heterodox opportunity presented by the massive crises on all economic and many social and political fronts, and present a bold design for macroeconomic policies dedicated to achieving social justice, or even just the – after all quite modest – MDGs. The Report does not meet expectations one has of a global social body – the UN’s Department of Economic and Social Affairs – to offer a critical assessment of the structures that are causing poverty, vulnerability and social injustice, and to offer remedies to the worst recession since the 1920s...

To read this article you have the options:

>>> As a subscriber log in directly >>> here.
>>> If you have no subscription >>> pick your option.

Find in this article:

	Overly optimistic on poverty alliviation
	Recession created a jobs crisis
	Return to a holistic policy view
	Threats to social cohesion

* SUBSCRIBE to World Economy & Development in brief >>> here.

Thanks to Germany it's 2008 all over again / Nepal: A second chance for the Maoists

Top of page

Imprint

General Terms and Conditions

RSS Feeds

Site Map

WDEV Recent Issues

Issue 6/Nov-Dec 2011
G20: Wrong forum for development + German aid under Niebel + London contra FTT + Food speculation: How it works
Issue 5/Sep-Oct 2011
The global social crisis +++ Thanks to Germany it's 2008 all over again +++ Nepal: Second chance for Maoists
Issue 4/Jul-Aug 2011
Non-FDI modes of international production + Bail-out 2.0 for Greece + Europe: Tobin tax on the move
Issue 3/May-Jun 2011
Survey on trade union rights violation + BRICS on the new IMF director + Greece and the euro + Green Economy for LDCs?
Issue 2/Mar-Apr 2011
LDC-IV in Istanbul +++ Reforming the global monetary system: Whick role for the IMF +++ Escalation of food prices +++ Remittances and development
www.wdev.eu

WDEV Highlights

Thinking development against the mainstream
Marking the 30th anniversary of one of the world's more influential economic annuals experts pointed out that themes long sounded in UNCTAD's Trade and Development Report retain current prominence - particularly those citing the questionable wisdom of unbridled free markets.
NGOs urge open selection of World Bank President
In an open letter a global coalition of development activists and non-governmental organisations (NGOs) is calling on the World Bank's governors to ensure that the next president is chosen in an "open and merit-based process" that will give borrowing countries a major say in the selection.
Myanmar - a new darling of the West
After decades of isolation - imposed by major OECD countries out of concern for the country's human rights violations - Myanmar is emerging as a new darling of the "West" - judging by the accelerating succession of visits by senior officials and gurus. New groups of investors are waiting to enter the country as soon as possible.
Prognosis 2012: On the brink of a global recession
Persistent high unemployment, the euro area debt crisis and premature fiscal austerity have already slowed global growth and factor into the possibility of a new recession. Now the United Nations have downgraded significantly its forecasts for the world economy in the next year.
Back to the IMF? Hungary under siege by creditors
Eastern European states are in for a new round of the crisis. The external control of the banking sector and high reliance on external credit has landed the countries of Eastern Europe in a vulnerable position. Now, credit flows from Western banks are drying up again. Hungary has been the first country in the region to ask for IMF support again.