Abstract
Based on an address delivered in November 2001 against a background of impending global recession, Reich's message stresses the importance of expansionary fiscal and monetary policies in minimizing job loss during an economic downturn. In the long term, however, promoting decent work means focusing on education and training - to enhance competitiveness through human capital and to promote flexibility through labour mobility. It also means continuing efforts to integrate the global economy and, for the sake of global social justice, opening industrialized countries' markets to exports from the developing countries, alleviating the latter's debt burden and upholding the ILO's core labour standards.