Governments warned of social implications of the global economic crisis

Jomo Kwame Sundaram

Governments need to consider the social consequences of economic policies before instituting them, especially during an economic crisis.

Jomo Kwame Sundaram, a senior UN official from the department of economic affairs says the global crisis reminds us that it is essential for people to be healthy, educated, adequately housed and well fed to be more productive and better able to contribute to society.

"Very often restoring financial systems has come as a cost of for example finance available for food for health systems for education and other things that affect human welfare. So this has been the unfortunate situation and in may countries especially when they've been forced to make budget cuts the budget cuts have tended to hit these social expenditures more than anything else."

The Report on the World Social Situation 2011: The Global Social Crisis, published by the UN Department of Economic and Social Affairs (UN-DESA), finds many governments did not pay sufficient attention to the social implications of the global economic crisis.

Duration: 25″

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