Labor Economics

by Cristobal M. Pagoso, et al

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Labor Economics

Labor Economics

by Cristobal M. Pagoso, et al

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The problem of unemployment and underemployment has been with us for so long. For more than a decade now, this problem has plagued us. To make matters worse, most of our neighboring countries do not consider unemployment a major problem.

Our government considers unemployment and other labor issues as major concerns. This is expressly stated in the national development goals of the Five-Year Development Plan.

This book is written with the objective of providing students of economics and business with a basic understanding of labor issues, theories, and problems, as well as labor legislations relevant to these issues. Economic development is so tied up with the development of labor that any development effort would be incomplete without substantial treatment of the theories and issues relevant to labor.

Government and private entities realize that development of their enterprises and business is deeply rooted in the development of human resources. The government's thrust towards manpower development throughout the country is a proof of this concern. Progressive corporations realize this, too, by emphasizing human resource development as part and parcel of their corporate objectives. Employers know that it is not good business to neglect labor.

The best preface for any book is its Table of Contents which outlines the coverage of the subject matter.

This book is divided into six parts.

Part One discusses an introduction to labor problems. The theory of the demand for labor and the supply of labor are presented as clearly as possible. A discussion on the population issue is also included here. Readings and cases on the demand and supply of labor are included to augment the understanding of the theory.

Part Two deals with the labor market. This part includes an analysis of the Philippine labor problems and a discussion of their solutions. Discussions on manpower and employment development are also included here.

Part Three talks of the wage system. The complex issue of the wage system is discussed in the light of the different theories on wages. Among the theories discussed are the classical and Marxian theories, the just wage theory, and the Keynesian theories. Pertinent issues and policies on wages are also discussed in this part.

Part Four deals with the policies and problems of collective bargaining. It analyzes the different theories and practices of the labor movements and how firms actually deal with their labor groups. The development and growth of labor unions in the Philippines and their contributions to the economy are also discussed here.

Part Five deals with the development of human resource of the resources available, human resource is the most important not only for the developed nations but more especially for the developing nations like the Philippines.

Part Six dwells on the topic of economic security. The topic talks of health, safety, and welfare benefits every employee should know. The two biggest social security systems in the Philippines, the Social Security System of the Philippines (SSS), and the Government Service Insurance System (GSIS), their objectives, activities, and accomplishments are featured in this part.

The authors are deeply indebted to the publications of the National Economic and Development Authority (NEDA), to the Department of Labor and Employment (DOLE), to other authors and publications without whose help this humble work could not have been realized, and to Lina and Mel for the inspiration.

Author(s)Cristobal M. Pagoso, et al
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