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Should the Government Intervene in the labour market - Essay Example

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Labor market plays a key role in propelling the economic growth of a nation since it provides a platform where the employers compete for the best employees that ascertain goal realization of a firm, while the employees compete for the best job positions that suit their…
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Should the Government Intervene in the labour market
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Should the Government Intervene in the labour market

Download file to see previous pages... Various critics argue that the government involvement in the labor markets is significant since it promotes free and fair employment while other argue the exact opposite, citing that in hinders the willing employer, willing employee relationships, owing to the various policies implemented (Tisdell and Hartley, 2008 p.269).
Government involvement in the labor market is critical since it acts in response to various challenges that emerge in employment. For instance, employers may opt to hire employees at extremely reduced rates, owing to their intended purpose of maximizing their profits. At such instances, some employees may be willing to work with such wages, owing to the unemployment rates resulting from economic recession globally while other suitable employees may be unwilling to work under such rates. This creates a challenge since the unemployed individuals may act in their fight for increased pay, which may lead to property and life destruction, and this call for government involvement, in a bid to provide a solution to such a predicament through the introduction of the minimum wage policies.
In other instances, some unscrupulous employers may overwork their employees without increasing their minimum salaries, and even subject them to working under harsh and dangerous conditions without the implementation of the necessary safety measure policies, in their bid to reduce costs(Neugart, 2002, p.69). This places the employees’ welfare at risk, and cases of employee opposition have been rampant across the globe. As such, government intervention is critical in such institutions since the government is tasked with the provision of apt safety policies that safeguard the welfare of such employees. This serves to reduce the employer-employee conflicts hence promoting production and profit maximization of such firms. Additionally, cases of employment of minors are still in practice, ...Download file to see next pagesRead More
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