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World Bank’s Anti-Labor Index Is a Dirty Business

9:45 am in Uncategorized by Michelle Chen

World Bank

Originally posted at In These Times

It’s a 2012 campaign mantra: On Day One, the new president will reboot the economy by spurring businesses to grow and thrive. Both mainstream candidates have vowed to achieve this, in part by eliminating onerous regulations to “unleash” the long-suppressed power of American industry.

The story is surprisingly similar across the pond. The financial giants of Europe’s troika pummelGreece and other struggling Eurozone countries with a blitzkrieg of kamikaze deregulation, conditioning financial “rescue” on giving markets free rein to work their magic, unencumbered by law. The flipside of this celebration of the Invisible Hand is, inevitably, a merciless beatdown on labor, stripping protections like unemployment aid and wage standards.

The World Bank has taken the extremely dubious science of deregulation one step further by creating a guide, known as the Doing Business report, that quantifies the regulatory “burden” that investors may face in various countries. The 2013 report was released this week.

Echoing the corporate “job creator” mythology of the Washington consensus, Doing Business encourages financiers and governments to erode public-interest protections, including safeguards for unions and workers. Labor groups say the publication’s warped views on regulation and worker protections effectively gives a statistical justification for leveraging economic aid or investment to pressure countries to privatize, deregulate and undermine unions. Read the rest of this entry →

Greece Strikes, the People Rise, Global Economy Teeters

6:09 am in Uncategorized by Michelle Chen

Police and Prosters Clash in Athens (Photo: Piazza Del Popolo, flickr)

Police and Prosters Clash in Athens (Photo: Piazza Del Popolo, flickr)

Cross-posted from In These Times

Everyone knew it was a losing battle, but everyone showed up anyway. In an uprising virtually unprecedented in its size, scope and diversity, malcontents united across Greece to push back against the government’s assault on working people.

This week’s 48-hour strike drew workers from both public and private sectors, students, the unemployed–just about everyone about to get smacked with the austerity measures that the Parliament has approved under pressure from IMF and Eurozone officials. With tens of thousands of civil service jobs to be downsized, pensions and wages to be gutted, and labor and civil rights under siege, the people’s upheaval has proven as severe and persistent as the fiscal butchery that politicians keep ramming down their throats.

People took to the streets because they had nothing to lose. As one protester, civil engineer Vagelis Filezis, told CNN, “We have no hope. The only hope we have is the strength of the people.” Read the rest of this entry →