Another systemic crisis? Or… A new stage of the crisis of the system?

The actual crisis is affecting workers from both developed economies and those from emerging ones. This means, “business as usual” will cause significant harm to workers and families so the adoption of austerity policies in large, will put them more pressure. Since the characterisation of nowadays are the reduction in the forecasts of growth, an accelerating inflation and a sovereign, corporate and household debt, Mr. Koszter advocates for a policy intervention (such some mechanisms from Central Banks) after years of lack of productive investment and demonstrating that, although the spectre of “stagflation” is already here, the austerity only deepens it.


Daniel Kostzer 

was the senior regional wage specialist for Asia and the Pacific at the inwork, International Labour Organization. Daniel does research in Labour Economics, especially wages and income distribution, poverty alleviation, and the linkages with the broad economic issues. Now he’s Chief Economist at the International Trade Union Confederation

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