Labour Market theory

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  • Created by: Ben LK
  • Created on: 09-05-15 16:19
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  • Labour Market (Weber)
    • The existence of markets in labour that cause poverty
      • Lack of power in the market is the specific cause of poverty
    • Reasons for lack of power
      • Lack of demand for the specific skills possessed by groups e.g. Textile workers
      • Over supply of specific skills e.g. IT graduates
      • Declining industries e.g. from primary sectors to tertiary sectors in employment
      • Lack of any skills e.g manual labourers
    • Recent developments that have weakened the power of workers
      • Privastisation
      • Outsourcing (abroad)
      • Ant-trade union laws
      • The move from manufacturin' to services
      • Higher rates of unemployment since '70s
    • Evaluation
      • Some argue a true market doesn't exist
      • Government and local government workers are largely outside the market
      • Minimum wage
      • Some groups CONTROL entry to their profession to maintain high pay
      • Employers are in a very powerful position as T.U rights have been limited
      • It's not a market, its mostly dominated by the RICH and POWERFUL
      • The labour supply is not flexible as shortages of housing and huge variability in cost prevent labour from moving in a way that would reflect the market conditions

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