The Bretton Woods conference occurred while a war was still raging and helped formed the basis of a postwar social contract. Similarly, we need to craft an ambitious reconstruction plan while working to end the pandemic. International support is a matter of collective survival and an investment in the future of health, the global economy, and multilateralism.
The choice is ours, and the actions of the IMF and the multilateral system will be a deciding factor.
Our goal for recovery should be full employment and a new social contract. Public investment in the care economy, education, and low-carbon infrastructure can form the backbone of stimulus that reduces inequality.
Wage policy, collective bargaining, and labor market regulation can revive demand and income while putting an end to a business model that allows companies to take no responsibility for their workers.
Debt should be addressed through a relief process focused on the United Nations Sustainable Development Goals and enduring economic growth for every country.
Shortsighted fiscal consolidation hindered debt management and reduction after the global financial crisis and would again leave us even less able to deal with future health and economic crises.
Shared prosperity can be the fruit of a COVID-19 world marked by shared ambition and global solidarity.
SHARAN BURROW is general secretary of the International Trade Union Confederation.
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