Labour Day becomes ‘May Day’ as staggering unemployment rates debilitate future economic growth

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Let’s roll the drums, shall we? Did we hear you say why? Hey, even this year, the Labour Day passed off with astounding progress to write home about, didn’t it? Well, wasn’t that what most of the governments of developed nations said? Wasn’t that the reason why we brought out those belly dancers (read, sycophantic economists) for supporting our tub-thumping gangs of politicians and bureaucrats? Like we mentioned in the heading above, we reserved just one response for all this... “Geez!”

Much like the ceremonial gestures attached to the sickle and hammer clad red flag, the internationally acclaimed date for ameliorating the plight of workers has been reduced to simply a public relations exercise. In global terms, the concerns for honourable working conditions for a common worker have dwindled at a dramatic pace. In fact, the new paradigm based on ‘efficiency based market forces’ has meant that wages, employment and the economic independence of the marginalized section of the society have been relegated to mere statistics.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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