5 Feb 2014
Heiner flassbeck, Professor of Economics, Hamburg University, argues that the world is in a dangerous moment where it is sliding towards a global recession with all its attendant social problems.
Globally, there is high pressure on low wages. In the past there was high pressure on high wages. However, 30 years after the neoliberal counterrevolution, it is the other way around. The situation is destabilizing the global economy and requires an intervention to strengthen the labour sector as well as various policies that would raise wages.
Flassbeck also calls for governments to engage in deficit spending to address social, ecological and developmental needs.
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