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Work by Mind Map: Work
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Work

Hayek

Argues trade unions are the cause of unemployment and inflation.

Unions prevent wage differentials guiding workers to were their skills are most needed

Believes if left to their own devices, people would price themselves back into work.

He sees the competitive market as a solution to social order.

Flexible labour markets can help by :-

Removing obstacles to advancement

Curbing trade unions

Persuading people to move about

Keynes

Social Democrat

Root of problem of unemployment is:

Solution

Keynes thinking was that wage cuts were not irrelevant, they could make unemployment worse. Lower wages means lower demand, meaning less revenue.

The Golden Age

Keynes

Male Dominated

Industrial

White, middle aged

Jobs for life

Some women in poor, low paid employment, but the majority still stay at home carers.

Flexibility

Less Job Security

No more jobs for life

Shift systems

Changing practises at industrial plants. i.e the manufacture of several car models at one plant, moving production between several plants.

Movement of production to other towns or other countries.

Effects of Flexibility

Types of flexible employment

Part -time

Temporary

Fixed term contracts

Seasonal Work

Flexitime

Overtime

Term Time only

Sunday working

Self employment

Liberalism

Individuals are the key,to get on in life they must:-

Flexible labour markets are the key to efficiently allocating skills where they will be of most use