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Labor market regulation is a difficult process because it is such a polarizing debate with two main opposing viewpoints, one which supports collective bargaining and regulation policies, and the other which lays emphasis on the benefits of promoting market processes such as demand and supply to control the labor market. The main objective of labor market regulations, however, is to ensure that the different approached used lead to improved social and economic outcomes.
Regulation of labor markets is an important process because of the direct impact that the labor markets have on the welfare of employees and their significant others. Various reasons for regulating labor markets include exploitation of employees, injustice, and market failures (Arup, 2006). There are both formal and informal ways of intervening in the labor market. Informal mechanisms include cultural processes that seek to maintain justice and eradicate exploitation. However, as societies grow and adopt complex economic and social systems, labor market regulation tends to lean towards formal approaches. There are two main mechanism of formal regulation in the labor market. These include direct intervention by the government and collective voice. Direct government intervention entails enacting statutes that control market processes in the labor market while collective voice involves two main approaches namely voluntary collective bargaining and representation of employees and employers trough unions (Hayter, 2011).
In the US, various political and economic forces have shaped labor market regulations over the years. Political ideologies and movements that have contributed to the development in labor market regulations include human rights movements, civil rights movements, the fight for equality, and feminism among others. It was not till the 20th century that developments in regulation of labor market began to take
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The U.S. fears that this turmoil might affect the country said the Federal Reserve in the sense that this could be a risk to the economy, though at present the crisis in Europe shows little impact to U.S. (Felsenthal & da Costa, 2011; Moon 2011). Felsenthal and da Costa (2011) said that this event can lead to “possible further steps to boost growth, though a stronger labor market has been noted”.
The main purpose of this privilege is to involve the workers in the decision making process of an organization, for which they are working; right to collectively bargain, changed lives of an ordinary worker, who was not even considered human during the ancient times.
The classic lockout in 2004-05 witnessed a loss for the complete season of National Hockey League (NHL). The lockout lasted for 310 days and was considered as the longest shutdown in the history of sports. And also, losing out on an entire season, resulting from a labor disagreement, occurred for the first time in the record of professional sports based league (Staudohar, “The Hockey Lockout Of 2004-05”).
The strong and solid foundations of the capitalist system that prevails in one of the largest economies of the world today has played a vital role in enrooting and stemming an abyss in the world order today. The masters or the so called National and Multinational Corporations in the world have alienated the workforce from their due rights.
In addition, labor strikes became notable in the period of Industrial Revolution. During this period, mass labor was significant in mines and factories. In a number of nations, strike actions were rapidly outlawed. This was because owners of factories held extra political influence than employees.
However, the foundations of plea bargaining are a throwback to the adversarial system of justice, whereby the main function of the system trial is to identify the material truth and ascertaining which contesting party can offer a better case. Pleas are supposed to be tendered during trials not to be rewarded but to as part of the procedural system.
Since America is so intensive it its quest to practice the Adam Smith’s depiction of Capitalism, the labor force correlates with the condition of the economy. Smith’s theory that propagated dependence of individualism that oozed
Labor law ensures that employees adhere to the requirements of their contracts. Labor law is not only a body of laws but also refers to various administrative rulings and earlier cases and agreements that dealt with the rights, freedoms, and restrictions on workers, workplaces, and employers.
This is especially for women who are now poor in America than the men. Like the Chinese and the Indians, the economy of America has increased substantially. This has happened because of the rapid financial development that has taken
These are interviews that have written down questions with minimal responses. They encourage uniformity and equality during interview and hiring process and are used by majority of the organizations in hiring and promotions. They include basic questions (Holley,
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