Editorial

摘要

In 2008 we saw the start of the financial crisis, in 2009 the economic crisis, now in 2010 the fiscal crisis and the sovereign debt crisis. What are the implications for the employment crisis and the social crisis?During the first crises, neoliberalism was discredited and there was a broad consensus that there could be 'no return to business as usual'. European governments devoted almost inconceivable billions to bailing out failed banks and - far more modestly - to moderating job losses as the financial crisis hit the real economy. By the latter part of 2009, the banks had returned to the culture of obscene bonuses for the managers who caused the crisis, governments talked of economic recovery, but any economic growth was jobless growth.