At the United Nations Conference on the World Financial and Economic Crisis and Its Impact on Development (June 24-26, 2009) in New York, more than 140 countries signed a global action plan that sets agreed-upon measures for the world to deal with the worst form of recession.
The conference adopts the finalized 16-page document. It reminds [...]

For the International Trade Union Confederation (ITUC), it is the young people, specifically young workers, that will shape and sway the direction of the future of the union movement. The ITUC is an umbrella organization composed of the national unions of several countries. The ITUC laments that young workers are victims of lack of employment, [...]

When workers formally band together and organize themselves in order to protect their rights and welfare, a labor union is born. A trade union exists primarily to negotiate with employers what are acceptably best in wage scales, working hours, workplace conditions, and workers’ benefits. The matter of employment is central to the mission and function [...]

While the current recession may be pinching them a bit, some of the world’s billionaires see the proverbial silver lining in the global economic rain clouds. Credit their healthy outlook on money, maybe. They earned their billions, so what can stop them from earning more? – well, only the (real) end of the world, perhaps.
Forbes [...]

“Giving large sums of money to the very people who caused the problems in the first place seems very unwise, to put it mildly,” said Srichand P Hinduja, Chairman of the diversified Hinduja Group.
In an article in Forbes magazine, as a pre-G-20 London summit commentary, Hinduja said: “What we are witnessing is the trailer to [...]

When income does not go to savings, it generally ends up in the realm of consumption. The principle of consumption rests on the concept of disposable income. When one has more income to spend, he has the bigger opportunity to consume.
Consumption is rather attractive and tempting, at times. In a free world, there really is [...]

Milton Friedman wrote a critical article in the Sunday New York Times on September 13, 1970 that appears in virtually every collection of articles on corporate social responsibility (CSR). The article’s title is “The Social Responsibility of Business is to Increase its Profits.” Friedman’s message is thus: there is one and only one social responsibility [...]

Wordsworth heavily criticized the fatalistic effect of man’s decadent materialism. For the poet, the material world is what is foremost in man’s mind, preoccupying and consuming his entire being. In the process, man forgets the beauty of nature in his life full of “getting and spending.” Wordsworth’s insight into the relationship between man and nature [...]

During the presidential campaign, John McCain accused Obama for being a socialist. True enough, Obama is now showing the world that socialism can mix with a market economy. Newsweek asserts that socialism in America did not start with Obama but with his predecessor George W. Bush who nationalized Freddie Mac and Fannie Mae, the two [...]

Davos warned that there will be more social reactions of nationalism due to the impact of the financial crisis. In what many regard as the worst in its history, the latest World Economic Forum in Davos, Switzerland ended its deliberations with a dramatic warning: the fear that the international economic crisis will result in violent [...]