Political, Economic and Social Dimensions of Labour Markets

Book excerpt: Why and how do politics, society and economics shape the growth and failure of labour markets? Does government intervention help or harm labour market reforms/adjustments in times of economic downturn? What forces drive such government intervention and do they differ from society to society? In addressing these big-picture questions, this book's analytical scope is heavily centred around the topic of labour markets' performance. The book argues that performance in labour markets across countries are influenced by their labour market policies. In turn, these policies are shaped, in varying degrees, by the country's politics. Each chapter in this book dives into the labour market experiences in various countries to demonstrate why in some countries, labour markets perform better than in other countries. Major findings from this book suggest that countries can produce better economic and social outcomes (e.g. lower socio-economic inequality) if their labour market policies are aimed at fostering a socially and politically stable society via greater equity in wealth distribution across various social (e.g. religious, ethnic) and income groups. This book is an essential read for any public policy researchers, policy practitioners and undergraduate/graduate students who are interested or vested in the topic of labour market performance in the political, social and economic dimensions. Particularly, this book provides a critical synthesis of the labour market experiences in many countries. Hence, the book serves as an ideational tool to advance future labour market research and policy.