Globalization 4.0 must build a better world for working people

The author contends that the current global economic model has failed by prioritizing corporate power over people and the environment, leading to inequality and broken trust. To address this, the document calls for a new social contract based on full employment, decent work, and universal social protection. It specifically emphasizes the need for a "just transition" to a low-carbon, high-tech economy that protects workers from displacement through retraining and income support. The text also highlights the risks posed by digitalization and platform-based business models that evade taxes and labor responsibilities, urging for a regulatory environment that ensures human control of data and technology.

• The current global economic model is described as a failure because it has prioritized the economy over people and the environment, contributing to a convergence of crises including climate change, inequality, and unemployment.
• A "just transition" to a low-carbon and high-tech economy is required to ensure workers are not left behind, necessitating guaranteed pensions, income and redeployment support, and lifelong learning to address technology-driven skill gaps.
• Digitalization and internet-mediated platforms have created business models that avoid tax obligations and employment responsibilities, leaving workers to fund their own social security and training without control over working conditions.
• The author proposes a new social contract based on four core principles: freedom of association, minimum living wages and collective bargaining rights, safe work, and universal social protection.
• The document asserts that the Paris Climate Agreement and Sustainable Development Goals offer a path toward a zero-carbon, zero-poverty world, though political maturity and multilateralism are currently lacking.

APA

Burrow, S. (2018). Globalization 4.0 must build a better world for working people. World Economic Forum. https://www.weforum.org/stories/global-risks/globalization-must-build-better-world-working-people/

Chicago

Burrow, Sharan. Globalization 4.0 must build a better world for working people. World Economic Forum, 2018. https://www.weforum.org/stories/global-risks/globalization-must-build-better-world-working-people/.

Wikipedia

{{cite press release |last1=Burrow |first1=Sharan |title=Globalization 4.0 must build a better world for working people |publisher=World Economic Forum |date=16 November 2018 |url=https://www.weforum.org/stories/global-risks/globalization-must-build-better-world-working-people/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{burrow2018globalization, author = {Burrow, Sharan}, title = {{Globalization 4.0 must build a better world for working people}}, publisher = {World Economic Forum}, year = {2018}, month = nov, url = {https://www.weforum.org/stories/global-risks/globalization-must-build-better-world-working-people/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }