Labour Market theory
- 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
- The existence of markets in labour that cause poverty
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