Unions must adapt to the new world
Part of the problem is that the advances in technology occur at a pace that far exceeds the ability of employees to adapt
More than 10 years ago, the global financial crisis captured and threatened to collapse the world's economic system. Due to the globalised nature of business operations, no part of the world was immune to the consequences of the crisis. Its aftermath - the loss of faith in capitalism's ability to self-regulate - led to a renewed focus on the role of regulators and oversight bodies in managing the system for the benefit of society at large. The trend to bail out affected banks on the basis that they were too important to fail became the preferred way of managing the fallout. To finance the bailouts, politicians and regulators tapped into avenues that had never been explored before. The co-ordination of the rescue efforts meant that the financial system was saved from its self-imposed crisis. Over time, the main players - the big banks - recovered and are now even more influential than before. The bankers who managed to live through the crisis have, since then, become wealthier on the...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.