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Labour power exists in any kind of society, but on what terms it is traded or combined with means of production to produce goods and services has historically varied greatly. [2] Under capitalism, according to Marx, the productive powers of labour appear as the creative power of capital. Indeed, "labour power at work" becomes a component of ...
Work or labor (labour in Commonwealth English) is the intentional activity people perform to support the needs and desires of themselves, other people, or organizations. [1] In the context of economics , work can be viewed as the human activity that contributes (along with other factors of production ) towards the goods and services within an ...
The conflict of a tight labor market spurred by surging demand and workers holding out for better pay has resulted in a clear winner — employees hold the power for one of the few times in history.
However, if the demand for labour is larger than the supply, salary increases, as employee have more bargaining power while employers have to compete for scarce labour. [ 5 ] The labour force (LF) is defined as the number of people of working age , who are either employed or actively looking for work (unemployed).
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.
Work engagement as measured by the UWES is positively related with, but can nevertheless be differentiated from, similar constructs such as job involvement and organizational commitment, [8] in-role and extra-role behavior; [9] personal initiative, [10] Type A, [11] and workaholism. [12]
Productive forces, productive powers, or forces of production (German: Produktivkräfte) is a central idea in Marxism and historical materialism.. In Karl Marx and Friedrich Engels' own critique of political economy, it refers to the combination of the means of labor (tools, machinery, land, infrastructure, and so on) with human labour power.
Power resource theory is a political theory proposing that variations among welfare states is largely attributable to differing distributions of power between economic classes. It argues that " working class power achieved through organisation by labor unions or left parties , produces more egalitarian distributional outcomes ".