The war in Ukraine: Consequences for the economy, labour class and equitable development in Europe and beyond

Abstract

This article encourages critical discussion about the economic and social consequences of the war in Ukraine. This war has global effects in various dimensions of social life: energy policy, the environmental dimension, the economic sphere, and also the political atmosphere. In each of these dimensions, it poses a threat to sustainable development and the interests of the labour class in Europe. It attempts to change the balance of power in global geopolitics and also proves to be a useful cover for attempts to change the model of relations between employees and the state and business in many European countries. Due to the conflict in Ukraine and the ensuing calls for increased efforts to ‘ensure security’, Europe has turned towards a war economy in which the interests of the arms industry are more important than the interests of the working classes. The war in Ukraine has proved to be an excellent justification for governments to lower social standards and get rid of the remnants of the welfare state. From this perspective, the atmosphere of the New Cold War becomes a challenge for the labour movement, the global left and all progressive social circles.