From pension funds to piggy banks: (Perverse) consequences of the Stability and Growth Pact since the crisis

As part of their strategy for economic and monetary union, European governments committed themselves to fiscal discipline – particularly by placing limits on annual deficits and on public debt. Subsequently, and as they sought to respond to the “current crisis”, they embraced the view that only if public finances were kept under control would sustainable recovery be possible. Rules of fiscal governance were strengthened. To help them meet these rules, the governments of many member States of the European Union made changes to their pension systems or to funds they had established specifically to pay the costs of population ageing. The intention was not to cut retirement benefits or to improve the efficiency of the relevant pension schemes and institutions. Rather, it was to free up resources immediately. Funded pension schemes and pension funds were treated like “piggy banks” that were raided when times became hard. Moreover, the policies pursued succeeded in meeting their objectives only because the system of national accounts according to which outcomes are judged does not recognize the way in which most of the fiscal gains are matched by future fiscal liabilities.     

Le travail n'est pas une marchandise. Contenu et sens du travail au XXIe siècle

Dans sa dernière leçon au Collège de France, Alain Supiot revient sur les travaux qu'il a consacrés aux transformations du travail au XXI^e siècle, en soulignant le rôle du droit et des institutions pour faire face aux conséquences de la révolution numérique et au défi écologique. La faillite morale, sociale et écologique du néolibéralisme doit nous obliger, selon lui, à reconsidérer la fiction juridique du travail marchandise et à établir ce que le préambule de la Constitution de l'OIT nomme «un régime de travail réellement humain», qui fasse place au sens et au contenu du travail. Cette thèse est illustrée par l’étude du cas de la recherche scientifique.     

Relations sociales et ajustements à la crise: une analyse microstatistique comparative franco‐britannique

Dans cette étude comparative sur la France et la Grande‐Bretagne, les auteurs analysent les liens entre relations professionnelles et ajustements (des effectifs et des salaires) face à la crise de 2007–2008, en s'appuyant sur deux enquêtes au niveau des établissements, fortement comparables, l'une britannique (WERS), l'autre française (REPONSE), collectées en 2010–2012. Malgré des contextes différents (composition du tissu productif, temporalité et impact de la crise), les liens entre relations sociales et stratégies d'ajustement semblent proches (la présence syndicale ne suffisant pas à empêcher les ajustements). La différenciation des systèmes de relations professionnelles ne permet donc pas d'expliquer les divergences de modes d'ajustement constatées au niveau macroéconomique.     

How much do OECD countries spend on social protection and how redistributive are their tax/benefit systems?

The global economic crisis has reignited interest in social policy and public spending on different types of social benefits. Public social spending‐to‐GDP ratios are often used to consider the magnitude of welfare systems in international perspective, but such comparisons alone give an incomplete picture of social effort across countries. This article looks at these different factors, before briefly considering the redistributive nature of tax/benefit systems in different member countries of the Organisation for Economic Co‐operation and Development (OECD). The article also considers trends in social spending and compares spending in the late 2000s with the early 1990s when the previous economic crisis played out. The article ends by illustrating the profound effect the recent global economic crisis had on social spending trends across OECD countries.