The Impact of the Market Economy

Market EconomyMarket Economy:

According to a large section of economists, the introduction and expansion of the market economy is one of the main reasons for the increase in the amount of unrestricted labor through the temporalization of labor. After the introduction of the market economy in this country, as the increase in the mobility of labor has increased on the other hand, the amount of foreign trade has increased and the penetration of multinational companies has increased in India. All these foreign companies understand one thing, profit.

As a result, they want cheap labor, labor that is social security or future liability, no one will have to take them. As a result, the amount of temporary labor, contracted labor is increasing. The multinational companies are making more benefits in this regard, entering the workforce of more number of women workers. Because of the social structure of our country, women have a normal preference for temporary work, because both work and outdoor work can be managed together.

The weaknesses of labor organizations:

If the market economy is expanding, he will look for cheap labor. It is the responsibility of the workers’ organizations to keep it tight. But labor organizations are also slowly losing their credit and burden. One of the main reasons is corruption, labor leaders are selling themselves to the owner. As a result of the bargaining meeting their emphasis was lost.

After seeing this situation of leaders, ordinary workers are losing their confidence in the organization. As a result, without any resistance, the employer is acting on temporary basis, contract recruitment, and contract recruitment. The number of permanent workers in the organization decreases as much as the workers’ struggles to fight. That is, the whole thing is rotating around the whole circle.

On the way to social chaos:

Fear is right here. Fear is this temporization of work pushing us towards a new social chaos? This incident of migration is happening in the urban economy. In the world of art and service. The presence of unskilled labor is the highest in the agricultural sector. But the tendency of modernization of agricultural field is comparatively low.

In the urban economy, the level of income discrimination is more. As a result, one kind of social unrest is working there. Modernization adds another new dimension to this discrimination. Despite being a merit, skill, being one, others are not getting these facilities to stay in the traditional work circle, but to be a member of the non-formal field. Needless to say that this anger is being saved, one day chaos will be born.

Yale University, Economics

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