Labour markets, social justice and economic efficiency
By: Kitson, Michael.
Contributor(s): Wilkinson, Frank | Martin, Ron.
Material type:
ArticlePublisher: 2000Description: p.631-41.Subject(s): Social justice | Labour market
In:
Cambridge Journal of EconomicsSummary: In conventional economic theory, a trade-off supposedly exists between social justice and economic efficiency. In reality, market and other economic institutions are dominated by power relations, sos that the sponsorship of social justice is a productive factor. Neo-liberal economic policies, by lifting the constraints on the exercise of unequal power, increased injustice and triggered a downward economic and social spiral. Reversing this requires a revolution in economic theory and policy focused on full employment, the working of labour markets, the organisation of work, and household organisation, social provision and self-sufficiency. - Reproduced
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Articles
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Indian Institute of Public Administration | Volume no: 24, Issue no: 6 | Available | AR47394 |
In conventional economic theory, a trade-off supposedly exists between social justice and economic efficiency. In reality, market and other economic institutions are dominated by power relations, sos that the sponsorship of social justice is a productive factor. Neo-liberal economic policies, by lifting the constraints on the exercise of unequal power, increased injustice and triggered a downward economic and social spiral. Reversing this requires a revolution in economic theory and policy focused on full employment, the working of labour markets, the organisation of work, and household organisation, social provision and self-sufficiency. - Reproduced
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