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This chapter argues that Australia’s labour market – indeed most capitalist labour markets –feature too much unemployment and underemployment and associated forms of labour marketinsecurity or disadvantage. The later term implies a weak or tenuous connection to the labour forcethrough underemployment or involuntary casual or part-time work and/or low wages or othermanifestations of weakness vis-à-vis employers. The direct and indirect costs of such malfunctions inthe labour market are reflected in all sorts of economic, social and health costs (Watts 2000; Saundersand Taylor 2002). A good deal of social policy is directed to problems emanating from the labourmarket and its various malfunctions – especially unemployment, underemployment and inequality.Accordingly, a good way to minimize the need for expensive and often difficult social policyinterventions is to organize the labour market so that it provides reasonable jobs and wages for thosethat seek them

Subject(s): Labor and Human Capital

Public Economics

Risk and Uncertainty

Issue Date: 2005

Publication Type: Working or Discussion Paper

PURL Identifier: http://purl.umn.edu/151507

Total Pages: 15

JEL Codes: J

Series Statement: Australian Public Policy Program


Record appears in: University of Queensland > School of Economics > Risk and Sustainable Management Group Working Papers

Autor: Bell, Stephen ; Quiggin, John

Fuente: http://ageconsearch.umn.edu/record/151507?ln=en

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