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Take Home Exam - Essay Example

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Another basic definition is that a primary labor market is a job that require formal education. An example is careers like finance and…
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Take Home Exam

Download file to see previous pages... The work force in a primary market is mainly motivated by incentives such as health benefits, insurance policies and pension funds. The employees often try to prove their education and skills to their employers. Subsequently, the significance of a primary labor market is the provision and support of a skilled labor force in the economy. As such, this labor force steers economic growth in all sectors and stimulate innovativeness and technological advancement as they outsmart each other to impress their employers (Rubin).
A secondary labor market compromises of a high employee turn-over, low paying wages, semi-skilled employees and temporary form of employment. These blue collar jobs may be performed by students or other people with limited educational qualifications. Rick Edwards in his book named Contested Terrain says that management in a secondary labor market treat the employees as interchangeable parts. If they dislike their jobs the employees are free to leave. This leads to a high staff turn-over in these markets. The significance of this labor market is provision of employment to many people and thus a reduction on the dependence on the government for financial help to sustain lives and livelihoods.
In the 19th century, Herbert Spencer advanced the social evolution idea. Social Darwinism is the use of the theory of natural selection of species to issues of economic, social and political nature. Social Darwinism follows the mantra of survival of the fittest. This survival also apply in the human species. The idea was used in promotion of the white race being superior to other races and thus justified to colonize them. The idea of social evolution holds that the weak species in the environment will eventually suffer and go into extinction.
Only the strong species are able to withstand the environmental pressures and hardships. Those species acquire adaptive features that ensures their survival. They thus rule over the weak species who crush ...Download file to see next pagesRead More
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