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By providing fiscal stimulus and strengthening financial sector regulation, of course. But that may not be enough. Will the U.S. and the Europeans also revisit the idea of a global social contract -- to protect millions of people losing their jobs in developing countries? In a speech I delivered to the Dutch Scientific Council in December, I argued that
Although we still do not have all the details, CQ Politics is reporting that most of last week's compromise on Trade Adjustment Assistance made it back into the stimulus bill. It had been pulled from the Senate version because of demands from Senator Kyl (R-AZ) that TAA reform be linked to a date certain for voting on the free trade agreement with Colombia.