Trade, Labor, and Trust


By iMFdirect

“If we’re fighting each other because we can’t design a system that actually works for everybody, then working people will again continue to mistrust our institutions, and the threat to democracy is very real; you see it.” – Sharan Burrow

Burrow is General Secretary of the International Trade Union Confederation, and in this podcast she says collective action is needed to help better distribute the benefits of growth.  Continue reading

Questioning Accepted Truths


camilla-andersen-may2015By Camilla Lund Andersen

2016 has been a year of political upheaval, as accepted truths about the power of globalization to transform lives and lift millions out of poverty are being questioned by electorates in Europe, the United States, and elsewhere. No longer prepared to take experts and elites at their word, many voters appear to be rejecting the adverse consequences of globalization by casting their ballot for antiestablishment messages and candidates.

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Globalization, Skills & Inequality


by iMFdirect

We should have seen a decrease in inequality with globalization, but that’s not what has happened in the last 25 years, according to Nobel Laureate and Harvard Professor Eric Maskin. While there are a number of reasons to care about inequality, he says there is a high correlation between high inequality and social and political unrest, with consequences for a country’s political and economic stability.

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What the G20 Can Do to Help the Global Recovery


By iMFdirect

(Versions in عربي and Español)

Shanghai will welcome finance ministers and central bank governors for the first ministerial meeting under China’s Group of Twenty presidency this weekend. The meeting comes at a critical time for the global economy. A note by IMF staff prepared as background for the G20 meeting, Global Prospects and Policy Challenges, points to a tepid recovery, and warns that weaker global growth might well be in the cards. This calls for a strong policy response, both national and multilateral, including from the G20.

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For Your Eyes Only: Three Jobs Not to Defer in 2013


David LiptonBy David Lipton

(Versions in  عربي, 中文, EspañolFrançaisРусский, 日本語)

With the New Year, we all hope to put the global financial crisis behind us. We also need to do more to secure our future.

Beyond our current economic and financial problems, there are long-term issues that we all know about, but that get too little attention in an era when policymakers are so fully engaged in slogging away at more immediate problems. Unfortunately, long-term issues unaddressed today will become crises tomorrow.

So we had better lengthen our focus, see what looms on the horizon, and do more to steer the global economy in a better direction.

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Jobs. Jobs. Jobs. Getting the Labor Markets Working Again


By Olivier Blanchard

The sharp and persistent rise in unemployment in advanced economies since the 2008-09 financial crisis is a hotly debated policy issue.  Rightly so:  High persistent unemployment has major human and economic costs, from loss of morale to loss of skills.  More broadly, it seems to undermine the very fabric of society.

Against this backdrop, the theme for the IMF’s 13th Jacques Polak Annual Research Conference, “Labor Markets through the Lens of the Great Recession,” could not be timelier. This year’s conference program weaves together a number of contributions by researchers both inside and outside the IMF, aiming to shed light on those labor market issues that are central to the current economic and social landscape.

Cyclical vs. structural

Peter Diamond, Nobel Prize winner in Economics and Professor of Economics at MIT, will give the keynote Mundell-Fleming lecture on the controversial issue of cyclical vs. structural unemployment.

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