WESTERN NATIONS ADHERE TO AUSTERITY EVEN AS RISING UNEMPLOYMENT AND FALLING WAGES REDUCES PEOPLE'S ABILITY TO BUY ANYTHING, THUS DRIVING ALL OF THEIR ECONOMIES INTO AN EVER-DEEPENING RECESSION. AND WHEN THE INCOMPETENT U.S. GOVERNMENT IMPOSES THE "FISCAL CLIFF" IN JANUARY, NOT JUST THE U.S. BUT ALL OF THE WORLD'S ECONOMIES WILL FALL OFF IT. THIS WILL LEAVE THE BANKSTERS AND THE SUPER-RICH THE ONLY FORESEEABLE WINNERS.

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October 14, 2012

Low wages and high unemployment are paralyzing the global economy

Part 1. Heiner Flassbeck [Director of the Division on Globalization and Development Strategies of the United Nations Conference on Trade and Development]: The drive to be more "competitive" is pushing the world economy into deep recession; the best that quantitative easing can do is create another bubble


October 15, 2012

The labor market is not self-regulating; governments must support worker's fight for higher wages 

Part 2. Heiner Flassbeck [Director of the Division on Globalization and Development Strategies of the United Nations Conference on Trade and Development]: Governments must intervene with policy that pushes wages up in line with productivity or global recession will deepen

Watch full multipart Reining in Finance and the Struggle Over UN Agency's Mandate


Bio

Mr. Heiner Flassbeck has served since 2006 as Director of the Division on Globalization and Development Strategies of the United Nations Conference on Trade and Development (UNCTAD). He is the principal author and the leader of the team preparing UNCTAD's Trade and Development Report. The Trade and Development Report is the flagship annual publication of UNCTAD covering both recent and longer term issues in the world economy, with particular emphasis on the implications for developing countries.