Globalization and mobile capital flows indeed offer an opportunity for increased growth which creates capacity to increase prosperity for all. However, a continuing challenge ahead is how to improve the functioning of capital markets. Without proper regulation, and without clear political will, the result of increased trade might still be growth, however not automatically equitable distribution and not as economically effective and sustainable as possible. To put it simple, the natural driving force of private capital is profit maximization,
and the driving force of labour is a decent living standard. The driving force of states should be the well-being of its citizens and economic stability. In the long run these actors are interdependent, as the objectives of each depend upon strong and sustainable growth.
“What we need is to secure a basic model worldwide – a new global deal between capital and labour, putting in place a foundation for free and fair trade, shared prosperity and decent work for all. And to achieve such a deal puts new demands on both governments, on business, and on labour.”
Stefan Löfven, Leader of the Swedish Social Democratic Party
If someone has an answer to these challenges it is us – the progressive, democratic, social democratic, socialist and labour movement.
In Stockholm, the capital of Sweden, we provide a forum for political discussions, networking, and sharing of best practices to make the first steps to realize a new global deal. We will gather participants from political parties, trade unions, institutions, business sector etc. and discuss a new global deal on the basis of the enclosed report.
To make this a real interactive event for all to make their voice heard we will use new working methods.