{"id":1202,"date":"2025-10-02T04:03:54","date_gmt":"2025-10-02T04:03:54","guid":{"rendered":"https:\/\/www.thebrokeronline.eu\/the-asymmetry-between-economic-and-social-effects\/"},"modified":"2025-10-02T04:03:54","modified_gmt":"2025-10-02T04:03:54","slug":"the-asymmetry-between-economic-and-social-effects","status":"publish","type":"page","link":"https:\/\/www.thebrokeronline.eu\/blogs\/redeveloping-finance\/the-asymmetry-between-economic-and-social-effects\/","title":{"rendered":"The Asymmetry Between Economic And Social Effects"},"content":{"rendered":"<div class=\"middle content\">\n<div class=\"column left\" id=\"columnleft\">\n<section class=\"block article author\">\n<div class=\"headline\">\n<h3>About the author<\/h3>\n<\/p><\/div>\n<div class=\"inline-content\">\n<div class=\"about-author\">\n<div class=\"tleft\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/www.thebrokeronline.eu\/files\/var\/broker\/storage\/images\/authors\/van-der-hoeven-rolph\/146536-4-eng-gb\/van-der-hoeven-rolph_author.jpg\" alt=\"\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n<div class=\"tright\">\n<h3><a href=\"https:\/\/www.thebrokeronline.eu\/authors\/van-der-hoeven-rolph\/\">Rolph van der Hoeven<\/a><\/h3>\n<\/p><\/div>\n<div class=\"clear\"><\/div>\n<p class=\"yunu3cvqabft7vifv\">\n\t\t\t\t\t\t\t\tRolph van der Hoeven is Professor on Employment and Development Economics at the Institute of Soc&#8230;\n\t\t\t\t\t\t\t<\/p>\n<p>\t\t\t\t\t\t\t<a class=\"more\" href=\"https:\/\/www.thebrokeronline.eu\/authors\/van-der-hoeven-rolph\/\">full profile<\/a><\/p>\n<div class=\"clear\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n<div class=\"block article author\">\n<div class=\"headline\">\n<h3>Tags<\/h3>\n<\/p><\/div>\n<div class=\"inline-content\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n<\/p><\/div>\n<div class=\"clear\"><\/div>\n<div class=\"clear\"><\/div>\n<\/p><\/div>\n<section class=\"content column wide left blog_post content view\" id=\"content\">\n<div class=\"edit image\">\n\t\t<img decoding=\"async\" src=\"https:\/\/www.thebrokeronline.eu\/files\/var\/broker\/storage\/images\/blogs\/redeveloping-finance\/the-asymmetry-between-economic-and-social-effects\/25065-4-eng-gb\/the-asymmetry-between-economic-and-social-effects_full_view.jpg\" alt=\"Photo by felipe_gabaldon\">\n\t<\/div>\n<article class=\"fader\">\n<header class=\"contents\">\n<div class=\"share\">\n\t\t\t<script type=\"text\/javascript\">\n    var addthis_config = {\n        ui_language = 'en'\n    }\n<\/script><\/p>\n<div class=\"addthis sharing\">\n\t<!-- AddThis Button BEGIN --><\/p>\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\" addthis:title=\"The asymmetry between economic and social effects\">\n\t<a class=\"addthis_button_twitter\" tw:via=\"thebrokeronline\"><\/a><br \/>\n\t<a class=\"addthis_button_facebook\"><\/a><br \/>\n\t<a class=\"addthis_button_pinterest_share\"><\/a><br \/>\n\t<a class=\"addthis_button_preferred_4\"><\/a><br \/>\n\t<a class=\"addthis_button_compact\"><\/a><br \/>\n\t<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n\t<\/div>\n<p>\t<script type=\"text\/javascript\">var addthis_config = data_track_addressbar;<\/script><br \/>\n\t<script type=\"text\/javascript\" src=\"https:\/\/www.thebrokeronline.eu\/files\/js\/300\/addthis_widget.js\"><\/script><br \/>\n\t<!-- AddThis Button END -->\n<\/div>\n<div class=\"addthis article_options\">\n\t\t<!-- \n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.thebrokeronline.eu\/mandrill\/subscription\/add\/4619\/4697\">Subscribe<\/a>\n\t\t\t\t -->\n<\/div>\n<\/p><\/div>\n<h1>\n\t\t\t\t\t\t\tThe asymmetry between economic and social effects<br \/>\n\t\t\t\t\t<\/h1>\n<div class=\"clear\"><\/div>\n<p>\t\t<a href=\"https:\/\/www.thebrokeronline.eu\/authors\/van-der-hoeven-rolph\/\">Rolph van der Hoeven<\/a>\t\t|<br \/>\n\t\t\t\t\t\t\t18 November 2025<br \/>\n\t<\/header>\n<div class=\"body contents\">\n\t<!-- body --><\/p>\n<p class=\"yunu3cvqabft7vifv\">\n<p class=\"yunu3cvqabft7vifv\">\u2018Social and political dimensions of the global crisis: Implications for developing countries\u2019. Under this title, the United Nations Research Institute for Social Development (<a href=\"http:\/\/www.unrisd.org\/\" target=\"_blank\"><b>UNRISD<\/b><\/a>) organized an international conference in Geneva on 12-13 November 2009. The conference results will be soon available on the UNRISD website, but here are a few random and personal impressions in anticipation.<\/p>\n<p class=\"yunu3cvqabft7vifv\">In the first session, Jomo Kwame Sundaram, the articulate assistant general of the UN, sketched a realistic picture of the current crisis. Several others did the same. One of the points elaborated upon was the asymmetry between economic and social effects of the crisis. While indicators at Wall Street are, for the moment, on \u2018green for go\u2019, the social indicators are not. Indicators of the social effects of the crisis point to a slower reversal than financial indicators. Some indicators even show irreversibility \u2013 for example, years of education lost, a lack of work experience.<\/p>\n<p class=\"yunu3cvqabft7vifv\">While some conference participants indicated that the Keynesian response saved the world from a crisis, as in the 1930&#8217;s, others saw this as strengthening the current capitalist system. Enormous amounts of public money were spent on keeping the banking system afloat and the financial system working. This in itself was necessary, but puts pressure on future development aid budgets and social spending. Also, it has already made many politicians, even from the left, argue for a \u2018business-as-usual\u2019 approach to national and international governance.<\/p>\n<p class=\"yunu3cvqabft7vifv\">The \u2018triple T\u2019 condition (timely, targeted, and temporary), under which assistance during the crisis was provided, also pointed in that direction. It was argued that the social outfall of the crisis called for long-term general increases and a shift in social spending.<\/p>\n<p class=\"yunu3cvqabft7vifv\">Failing this, several participants argued that capital will come out stronger from this crisis, while labour will be woken if no special measures are taken. There was no firm consensus about how to counter this. Most participants were pessimistic and predicted a \u2018muddling through\u2019. Others were more optimistic, however, indicating that public opinion and popular pressure is pushing politicians to be more cognizant of distribution and employment concerns, and act accordingly.<\/p>\n<p class=\"yunu3cvqabft7vifv\"><i>The conference was ably managed by the UNRISD team under the new leadership of Sarah Cook. She has recently taken over the helm from Thandika Mkandawire, who completed two dynamic periods at UNRISD and who has since become the first holder of the Mandela Chair at the London School of Economics.<\/i><\/p>\n<\/p>\n<p class=\"yunu3cvqabft7vifv\">\n<p class=\"credit\">Photo credit main picture: Photo by felipe_gabaldon<\/p>\n<p>\t\t<!-- body -->\n\t<\/div>\n<\/article>\n<div class=\"clear\"><\/div>\n<section class=\"commentform content column wide left\">\n<div class=\"disqus_content\">\n\t\t<a name=\"comments\" id=\"comments\"><\/a><\/p>\n<div id=\"disqus_thread\"><\/div>\n<p>        <script type=\"text\/javascript\">\n            \/* * * CONFIGURATION VARIABLES: EDIT BEFORE PASTING INTO YOUR WEBPAGE * * *\/\n            var disqus_shortname = 'broker'; \/\/ required: replace example with your forum shortname\n            var disqus_identifier = '3682';\n            \/* * * DON'T EDIT BELOW THIS LINE * * *\/\n\t\t\tfunction trackComment(comment)\n            {\n                console.log(comment);\n            }\n\t\t\tfunction disqus_config() {\n                this.callbacks.onNewComment = [function() { \n                console.log(comment);\n                }];\n            }\n\t\t\t(function() {\n                var dsq = document.createElement('script'); dsq.type = 'text\/javascript'; dsq.async = true;\n                dsq.src = '\/\/' + disqus_shortname + 'https:\/\/www.thebrokeronline.eu\/files\/blogs\/redeveloping-finance\/.disqus.com\/embed.js';\n                (document.getElementsByTagName('head')[0] || document.getElementsByTagName('body')[0]).appendChild(dsq);\n            })();\n        <\/script><br \/>\n        <!--\n        <noscript>Please enable JavaScript to view the <a href=\"http:\/\/disqus.com\/?ref_noscript\">comments powered by Disqus.<\/a><\/noscript>\n        <a href=\"http:\/\/disqus.com\" class=\"dsq-brlink\">comments powered by <span class=\"logo-disqus\">Disqus<\/span><\/a>\n        -->\n    <\/div>\n<\/section>\n<\/section><\/div>\n<div class=\"clear\"><\/div>\n","protected":false,"raw":""},"excerpt":{"rendered":"<p>About the author Rolph van der Hoeven Rolph van [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"template_3.php","meta":{"footnotes":""},"class_list":["post-1202","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The asymmetry between economic and social effects \/ Redeveloping finance \/ Blogs - The Broker<\/title>\n<meta name=\"description\" content=\"\u00e2\u20ac\u02dcSocial and political dimensions of the global crisis: Implications for developing countries\u00e2\u20ac\u2122. 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Under this title, the United Nations Research Institute for Social Development (UNRISD) organized an international conference in Geneva on 12-13 November 2009. The conference results will be soon available on the UNRISD website, but here are a few random and personal impressions in anticipation.In the first session, Jomo Kwame Sundaram, the articulate assistant general of the UN, sketched a realisti...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.thebrokeronline.eu\/blogs\/redeveloping-finance\/the-asymmetry-between-economic-and-social-effects\/","og_type":"article","og_title":"The asymmetry between economic and social effects \/ Redeveloping finance \/ Blogs - The Broker","og_description":"\u00e2\u20ac\u02dcSocial and political dimensions of the global crisis: Implications for developing countries\u00e2\u20ac\u2122. 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