Labour economics

In the world of economics, the scenario is always given with the following words, “with all things being equal”. There is nothing equal about one man owning another man. It is a false connotation when it comes to labour power and how it was conceived. Those who loathed for power, craved it, and aspired to beat everyone else with the same goal became extremely rich. Those who only wanted to get by, with food in their stomachs and a roof over their heads became poorer. The fine line between the…

and the effects of migration from Bangladesh to India with some introspection into the labour market and then recommends the possible change in policies and diplomatic approach that might help in reducing the aggravating problem. Introduction Ever since the liberation of Bangladesh in 1971, there has been a significant influx of migrants into India. Despite of the risks involved in migration, short term labour migration has proliferated over the years. This movement that continued unabated for…

classical theory in which some of basic feature are, Classical view given on the basis of economic liberalism,they believed in personel liberty,private property,individual initiative and private enterprise. Moral sentiment published in 1759 by adam Smith and Wealth of Nation in 1776 which challenged to Mercantalist According to him wealth of nation can be increased through adopting the principle of “Division of labour”…

charitable organisations which focus on improving livelihood of poor labour. It strived hard to guarantee employees a decent wage. Not only does globalisation lead to the rise of global charitable organisations which arouses public’s awareness of poor situation of labour, but it also brings world-wide supervision over the situation of labour. For instance, National Labor Committee in the North America launched a campaign to support labour who are exploited by Gap in El Salvador, as stated by…

value is determined by utility and so he focuses on elaborating on this term rather than value. He says, “Repeated reflection and inquiry have led me to the somewhat novel opinion, that value depends entirely upon utility” (Page 434, The History of Economic Thought, A Reader). Utility is the single most important element to value and it is has two dimensions, duration and intensity. Essentially anything that a person is will to labor for and desire for must have some utility because it must…

Globalization refers to the worldwide scope of economic growth through integration of the global economy created by free trade, capital and labour markets. Globalization has subsisted from the commencement of humanity in practices such as the spread of religion and ideas, however its very nature has significantly altered its process and means of distribution. Globalization now nurtures interconnectedness, democracy and strength between nations. On the other hand, with such forces between…

According to Australian Bureau of Statistics, during 2011 to 2012, the overall labour force participation rates between the 20-24 age group and the 45-54 age group were roughly stable (around 85%-75%) while it declines dramatically from the 55-64 age group with 75% to 60% for males and females respectively (Figure1). In addition, it is predicted that by 2044-45, the aggregate labour force participation rates will fall by approximate 7 percent (Australia Government Productivity Commission…

enabled and promoted worldwide trade, creating more efficient and faster transportation of goods and social and cultural exchange (Ravelli and Webber 2015. 376). Economic factors of globalization such as the expansion of trade and the emergence…

Review of Jayati Ghosh’s book “Never Done and Poorly Paid” Divya Mehrotra MA Women’s Studies Tata Institute of Social Sciences 28/03/2015 Inroduction: Issues of labour and employment have been core areas of concern for most economists around the world. The following paper consists of a review of the book titled Never Done and Poorly Paid: Women’s Work in Globalising India written by Jayati Ghosh which was published in 2009 by Women Unlimited, an associate of Kali for women, New…

been hovering from the 5-6% range (Tradingeconomics.com, 2017), which is in the band targeted by the Reserve Bank of Australia. If the rate of unemployment becomes too high, the economy will be impacted by a myriad of negative economic and social consequences. From an economic perspective, a high unemployment rate could easily lead to downturn, as resources are allocated inefficiently, consumption decreases and production decreases. Moreover, it creates a budget strain on the government, as tax…