thematic reports
|
The fact that one of the risks inherent to the capitalist system – the over-production of capital derived from attempts to counteract the fall of profit rates by means of an increase of the reserve rates – has come to pass is evidence of the structural nature of the current economic crisis. This not only disproves the theory that a lack of state regulation of financial capital brought about the crisis but also calls for responses beyond those applied to date: essentially, increasing public debt in order to buttress corporate balance sheets.
|
|
To be a global player in the response to the crisis, Europe should advocate and work towards an inclusive partnership with all countries, not only the most powerful ones. It should ensure that the measures it puts in place seek to address the needs of all, particularly those most vulnerable to the effects of the crisis, both within Europe and in developing countries. These are the challenges of the new European Parliament and Commission whose mandate coincides with the period between now and 2015, the date for achieving the Millennium Development Goals.
|
|
The global economic crisis comes at a time when countries and citizens in the Arab region have been trying to adjust to wildly fluctuating food and fuel prices. In addition, the region is increasingly affected by climate change, with increasing desertification, rising coastal waters and scarcity of fresh water. The confluence of these crises exposes explosive vulnerabilities across the region, at the centre of which are poverty and unemployment. This calls for intervention from different stakeholders; and responses to the economic crisis should take into account the need to tackle the other crises as well. Arab governments should strengthen co-ordination, enable citizens to participate in setting development priorities, and orient social policies to reduce poverty in a sustainable and equitable way.
|
|
: The Least Developed Countres (LDCs) are in the forefront of those bearing the brunt of the global economic crisis. In LDC countries the economic crisis translates into food, fuel, climate, debt, development and political crises. A fundamental transformation of the global financial architecture is needed: for many people living in poverty in LDCs, the current model of economic growth has brought little benefit, if any. The global economic crisis must be used as an opportunity to bring about real transformation in the global system so that everyone on this planet is offered better opportunities to lead meaningful and secure lives.
|
|
Civil society organizations are employing a variety of methods to hold corporations accountable for meeting their human and labour rights obligations. These initiatives and mechanisms aim to protect and promote fundamental human and labour rights, with varying degrees of effectiveness. Although they represent an initial attempt to address weaknesses inherent in the unilateral, voluntary model of Corporate Social Responsibility, the only truly effective solution would be to change the paradigms of both the human rights framework for corporations and the economic model in general.
|
|
In developing countries the poor spend upwards of 50% of their income on food – the poorest spend 80% or more. The increase in food prices has increased not just poverty, but also hunger. Some elements that have influenced the rise in agricultural commodity prices are, among others: scarce water supplies, production costs, droughts and climate change. We need a new food system, a system that respects political, social, cultural, and environmental rights as well as the economic importance of agriculture. Governments need to integrate respect for the universal human right to food in all economic policy planning.
|
|
Although the legacy of the ongoing financial crisis will be gloomy, it may also have another legacy in that crucial ideas about human rights can no longer be dismissed. The crisis presents a historic opportunity – and a generational responsibility – to rethink decision-making in economic policy. A human rights-based approach calls for a reform of governance structures to ensure that all economic policy is carried out in accordance with the human rights regime. This will ensure participation at all levels, subjecting decisions to public scrutiny, transparency and accountability at every step.
|
