Towards Social Adjustment: Labour Market Issues in Structural Adjustment

Abstract

Orthodox structural policy has tended to neglect labour policy or to treat labour market institutions and protective regulations as rigidities. This book argues that adjustment is more likely to improve labour market efficiency and income distribution. With the growth of informal and privatized production and flexible employment, new labour regulations, payment mechanisms and institutional safeguards are needed to ensure that the benefits of growth are shared and inequality reduced. The authors highlight shortcomings of the orthodox approach and propose some essential elements of an alternative, social strategy.

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