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External numerical flexibility is the adjustment of the labour intake, or the number of workers from the external market. This can be achieved by employing workers on temporary work or fixed-term contracts or through relaxed hiring and firing regulations or in other words relaxation of employment protection legislation, where employers can hire and fire permanent employees according to the ...
However, the labour market differs from other markets (like the markets for goods or the financial market) in several ways. In particular, the labour market may act as a non-clearing market. While according to neoclassical theory most markets quickly attain a point of equilibrium without excess supply or demand, this may not be true of the ...
The wage curve [1] is the negative relationship between the levels of unemployment and wages that arises when these variables are expressed in local terms. According to David Blanchflower and Andrew Oswald (1994, p. 5), the wage curve summarizes the fact that "A worker who is employed in an area of high unemployment earns less than an identical individual who works in a region with low ...
Since its introduction into the legal system the act is constantly being adapted and updated to the current reality of the labour market in Poland. The basic form of employment in Poland is an employment contract, which can be concluded for a probation period, a definite period of time or an indefinite period of time.
Salary protest by the Bakers, Food and Allied Workers' Union in the United Kingdom in January 2016. Wage slavery is a term used to criticize exploitation of labour by business, by keeping wages low or stagnant in order to maximize profits.
For Marxists, labour-as-commodity, which is how they regard wage labour, [10] provides a fundamental point of attack against capitalism. [11] "It can be persuasively argued," noted one concerned philosopher, "that the conception of the worker's labour as a commodity confirms Marx's stigmatisation of the wage system of private capitalism as ...
Active labour market policies are based on the concept of social investment, which rests on the idea of basing decision-making on the welfare of society in quantifiable terms, by increasing the employability, incomes and productivity of economic agents, so this approach interprets state expenditure not as consumption but as an investment that will produce returns on the welfare of individuals.
Although "polarization" is a relatively young concept in economic analysis, the phenomenon of wage and labor skill polarization is as old as economics. More recently economic polarization has been connected to both automation and the export of jobs to low wage countries.