On 21 September, Sweden’s Prime Minister, Stefan Löfven is set to present to the United Nations his Global Deal project that aims to achieve a fairer working world. He will put forward the implementation of a new ‘capital /labor’ compromise to ensure shared prosperity by placing employment at the center of global macroeconomic policy. This goal of this new ‘pact’ is to achieve decent work for all as well as effective industrial relations that will lead to more equality and inclusive growth to the benefit of all. Although prepared jointly with the ILO and the OECD, the initiative has little in the way of support.
Underlying principle: promoting decent work based on social dialogue. Although the idea behind the Global Deal dates back to 2012, since the 2014 elections it has become PM Löfven’s warhorse. The pact stems from recognizing that globalization is inevitable but that until now most sections of society haven’t benefited from the process, which will negatively impact businesses’ medium and long term financial situation and lead to negative consequences on economic growth. At the center of the proje
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