The Neglect of Employment in the International Economic Order

Abstract

The post-World War II international economic order obliged the nation-states to conduct their foreign economic policies according to binding rules. As employment continued to be a purely national responsibility of the individual countries, international obligations turned into serious constraints on the pursuit of national employment policies. International agreement should provide the possibility that countries disengage themselves from the restrictive influence of foreign obligations. In addition, international employment policies would be desirable. They should focus on a common commitment to the goal of full employment rather than on concrete policy measures. But broad international strategies, such as the assumption of locomotive functions by strong economies or massive financial support for Third World development, can—depending on various conditions—also be positive.