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Towards an integrated vision for dealing with instability and risk

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Towards an integrated vision for dealing with instability and risk

Author: Tokman, Víctor E. Physical Description: páginas. 79-98 Date: December 2003 ECLAC symbol: LC/G.2216-P


This article puts forth a hypothesis and a challenge.
The hypothesis: structural change in the international economy and in the management of public policy has brought about changes in economic performance, affected employment,
poverty, and equity and resulted in greater insecurity and
uncertainty. The challenge: coping with this insecurity and
uncertainty despite public policy's abandonment of its
historical role and the lack of success thus far of the new
approaches. This study points to the greater vulnerability
today stemming from the labour market as well as
asymmetries in trends in poverty and equity and examines
how to address the inevitable social consequences of
instability. It also proposes how to go about managing the
instability that comes from the international sphere; adjusting
macroeconomic policy to lessen the effects of the cycle;
reconciling the need for labour flexibility with the protection
required to cope with greater vulnerability; protecting those
who are most vulnerable; and moving towards universal
social security coverage.