WEF hailed the US for its business dynamism and vibrant entrepreneurial culture, its flexible labour markets
, the depth, breadth and relative stability of its financial system and its market size.
The second measure she announced on Monday, betrayed how little she understands the need for flexible labour markets
, which the European Commission has been urging EU member-states to pursue.
Mr Cable said: "We have seen off the headbangers who want a hire and fire culture and seem to find sacking people an aphrodisiac: totally irrelevant in a country with flexible labour markets
which have created over a million private sector jobs in the last two years.
"We have seen off the 'head bangers' who want a hire and fire culture and seem to find sacking people an aphrodisiac: totally irrelevant in a country with flexible labour markets
which have created over a million private sector jobs in the last two years,"
What Salter describes there is, in effect, the objective of the concerted efforts in recent decades to create in advanced capitalist economies what are euphemistically called flexible labour markets
. I conjecture that if we examined the postwar experiences of the United Kingdom and Australian economies, for example, by classifying them into periods which either had or did not have flexible labour markets
, we would detect in the evidence outcomes which Salter's analysis predicted would occur.
While the employers are in favour of resorting to the principles of flexicurity - a combination of flexible labour markets
and a high level of employment and income security - to overcome the crisis, the European Trade Union Confederation (ETUC) is strongly opposed to this, as it believes flexicurity would increase work precarity.
Downing Street said that he had simply been making the case for flexible labour markets
, of which Prime Minister David Cameron was "in favour".
The shadow energy secretary said: "Unless we change our attitude on a whole range of things that New Labour took for granted, like flexible labour markets
that mean low pay and bad working conditions for people, tuition fees and ID cards, unless we change we are not going to win again.
And we have flexible labour markets
that enable firms to grow and contract quickly, but which protect and help workers with retraining and support them as they move between jobs.
Speaking at a meeting of Birmingham Future yesterday, he told the city's young professionals that Britain had one of the most flexible labour markets
anywhere and this had attributed to its success.
In this context attempts to create flexible labour markets
failed because the regime feared the consequences of large-scale long-term unemployment, wage reforms failed as the economy disintegrated and worker militancy increased, and enterprise democratization failed as managers defended their privileges.