Work Security in a Global Economy

Abstract

Work security is a fundamental right of all working people. After World War II, the welfare state became an intrinsic part of the “Golden Age” of capitalism, in which universal prosperity seemed attainable. Workers' organizations frequently played a crucial role in policy decisions that promoted full employment, income stability, and equitable treatment of workers. Today's world order is quite different. Globalization in its present form is a major obstacle to work security. Globalization is not simply a market-driven phenomenon. It is a political and ideological movement that grants authority to capital over governments and labor. This transfer of authority hinders national efforts to promote work security and may impact the well-being of communities worldwide. In the absence of domestic autonomy, international labor standards are needed to protect social welfare. They should be geared toward curbing unemployment, poverty, and social exclusion in the global economy. The article looks at three initiatives to promote global work security.