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11 pages/≈3025 words
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15 Sources
Style:
Harvard
Subject:
Social Sciences
Type:
Essay
Language:
English (U.S.)
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Topic:
Analyse Whether Reforms Address Problems In This Market
Essay Instructions:
please use some of the reference from the readings that i have uploaded, the files start with LM are readings related to labour market,This is a 3000-word individual assessment. The assessment will be based on: a)your demonstrated knowledge of the subject matter (depth and scope), b) your critical engagement with the relevant literature beyond the recommended readings or class discussions, c) your ability to link theories with empirical evidence, and d) a clear and solid structure of the paper that conveys arguments in a critical and assertive way.
Use clear formatting that includes page numbering, subtitles and proper referencing
Essay Sample Content Preview:
THE POLITICAL ECONOMY OF LABOR MARKETS
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Introduction
Labor market policies have aggressively developed on a global scale over the last three decades although distinctly national in overall orientation. The various determinants of the active labor markets policy include human capital investment, employment, incentives and occupation. Since the early 1970s, the world has undergone significance changes in the labor sector specifically after the fall of the gold standard era and the Britton Woods system adopted capitalism and when communism finally came to an end in the late 1980s, they were both replaced by an era of consolidated monetarism. During the mid 20th century the poor and the workers relations were better addressed by the communist system than the capitalist one and therefore the latter was forced to adopt reformative approaches such as equity after World War II.
Through elimination of economic competition in the post war era, Keynesian policies were introduced and their aim was two pronged in its approach. The first aim was to improve the mode of production in order to enhance the capacity of capitalism and secondly to secure the well-being of the capital by abandoning capitalism without providing an alternative which gave a leeway for significant wage related reforms that saw the legalization of new working conditions with several perks under new social rights based leaderships.
The capitalist model relies on the worker selling their labor power to the capitalist for production of more than is required of them, in what is called surplus value accumulation. By detaching labor from the means of production, labor power is sold in the market as a commodity with an aim to produce more in less time at a lesser cost while the labor is used as a pedestal for improving the living conditions of the worker by decreasing the working time and increasing their wages. From this explanation, the capitalistic production process is antagonistic.
The state as a beneficiary of capitalistic practices represents a political reflection of the economic relations through the class antagonism, which is necessary for social reproduction. This paper analyses the changes from the Keynesian economic policies to the monetary economic policies with regard to the Marxists definitions of class, a capitalist state, class struggle and the disobedience of labor. It further interrogates labor reforms which are considered an initiative for production processes to perpetuate labor dependency for profit making and efficiency.
From the Gold Standard to the Labor Standard
During the period following the wars, commonly known as the gold standard era, governments undertook to full time employment for purposes of economic and industrial recovery. Britain and France however took different directions in how they administered the unemployment issue. While France never attached any political significance to the unemployment Britain undertook policies that aimed at industrial reconstruction which required formal and attractive employment terms. Together with these policies, Britain saw the need to align work practices with manufacturing needs for purposes of industrial sustainability. Social secur...
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