Law Labour Law
Thursday, 17 May 2018 18:00 pm
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The basic principles of Economics stipulate that the factors of production are
- No production can be possible without these factors. Since the production is the basis for the economy of a country, it is just a necessity to ensure that the factors of production are in the cordial relationship with each other.
The laws which ensure the cordial relationship between the factors of production are called / “Industrial Law” or Labour Laws. Of all the factors, labor plays a major role to ensure production. Though the other factors are often found in harmony with each other, the labor is always a persona non-grata to the others and as such the evolving legal measures to affect the friendly relationship or to reduce frictions with other factors are just and necessary.
“The Das Capital of Karl Marx has introduced innovative principles in the welfare of the Labour and empowered the workforce to achieve their rights and as such, the labor laws enacted in the late 19th and 20th century inculcated the principles of Karl Marx. The Russian Revolution of 1917 centered on the rights of the labor force and a proletariat form of government i.e communist government was established which spread to entire Europe.
The Mayday holiday is the product of communism and the labor-oriented legal measures have incorporated many of the communist ideologies such as
- . Eight (8) hours duty
- ii. Trade Union Movements and Collective Bargaining
- iii. Equal Pay for Equal work.
- iv. Minimum wages
- v. Bonus (Right of labor to have a share in profits)
- vi. Workmen Compensation
- vii. Working Conditions of workmen in factories
- viii. Gratuity