economic policy & Labour

New Technology and Unemployment

Enable GingerCannot connect to Ginger Check your internet connectionor reload the browserDisable in this text fieldRephraseRephrase current sentenceEdit in Ginger×THE use of new technology has triggered an anxiety of job loss across the world. In advanced countries repetitive jobs at the middle levels are increasingly being replaced by use of intelligent machines empowered by artificial intelligence (AI) and Internet of Things (IOT).

Youth Unemployment and Growing NEET Segment

Enable GingerCannot connect to Ginger Check your internet connectionor reload the browserDisable in this text fieldRephraseRephrase current sentenceEdit in Ginger×HIGH unemployment rates among youth in the past three decades have been a major concern in India’s labour market. Although unemployment rate among youth has increased during the pandemic and the rate of absorption during recovery continues to be low compared to other age groups, but it is not only related to the pandemic.

Food Inflation: Is It Only About Weather?

Enable GingerCannot connect to Ginger Check your internet connectionor reload the browserDisable in this text fieldRephraseRephrase current sentenceEdit in Ginger×ONCE again, working people feel the heat of rise in vegetable, rice and pulses price and an increase in CPI general index in June 2023. The inflation rate is a general increase in prices, moderated since November 2022 after long episodes of high inflation.

Consumption Growth Slows but Corporates Bag High Profits

THE recent press release by the National Statistical Office on the provisional estimates of National Income quarterly estimates for the fourth quarter (January to March) together with the provisional estimates for the year 2022-23 deserves attention. It provides estimates for GDP and related figures of 2022-23 in current and constant 2011-12 prices with the corresponding figures of 2020-21 (2nd Revised estimates) and of 2021-22 (1st Revised Estimates).The crucial headlines of the statistics from the recent press release are the following.

Flexibilisation of Production and Resistance

INDUSTRIAL structure is undergoing change across the world with the rise of local and international networks of production. The Fordist regime of vertically integrated production organisation is gradually being replaced by modularised horizontal and diagonal networks coordinated often by MNCs or TNCs and spread across the globe. The essential difference between the two regimes is the element of flexibility that redefines the nature of contract both between capital and capital and capital and labour.

Financialisation and Slow Growth in Private Investment

SINCE the global financial crisis, investment growth has not recovered to its pre-crisis level worldwide. India despite being a fast growing economy, the growth in gross fixed capital formation shows a declining trend in the past two decades. In the post-crisis period, the governments introduced various institutional reforms in the rubric of ‘ease of doing business’, also corporates could have greater access to finance and external borrowings and public investment was geared to crowd in private corporate investment.

Disconcerting Trends in the Economy

Enable GingerCannot connect to Ginger Check your internet connectionor reload the browserDisable in this text fieldRephraseRephrase current sentenceEdit in Ginger×THE recovery of the economy immediately after the pandemic was reflected through positive and increasing growth in various sectors as businesses were back to normalcy. Much of these growth rates have been reflective of the pent up demand accumulated due to lock down and related disruptions.

Capitalism and Unfree Labour

WAGE labour is a distinctive feature of capitalism but not necessarily all wage labour can be considered as ‘free labour’, neither is it true that capitalism is inimical to unfree labour. Marx sarcastically mentioned that a worker is doubly free in the sense s/he is free to sell labour power as her/his own commodity and also free of all means of production by which s/he could have valorised her/his own labour.

Patriarchy Subsidises Capitalism

Enable GingerCannot connect to Ginger Check your internet connectionor reload the browserDisable in this text fieldRephraseRephrase current sentenceEdit in Ginger×THE uninterrupted supply of labour in capitalism is ensured by a socio-cultural arrangement of producing the ‘worker’ within family and household. This is not a capitalist site of production where goods and services are produced as commodities by engaging wage labour.

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