Flexible Labour and Capital Accumulation in a Post-Colonial Country
This chapter links labour market flexibility with capital accumulation in the context of a post-colonial country like India. The chapter is organized in four sections starting with an understanding of neoliberal age and the nature of capital accumulation
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stract This chapter links labour market flexibility with capital accumulation in the context of a post-colonial country like India. The chapter is organized in four sections starting with an understanding of neoliberal age and the nature of capital accumulation in general in the context of a post-colonial economic space. This is followed by an analysis of labour market flexibility. The liberal era which is supposedly characterized by rigid labour laws with an interventionist state in Keynesian sense is marked with growing strength of trade unions and labour organizations in the West and in post-colonial emerging economy like India. The neoliberal age is marked with a diametrically opposite tendency, namely, the weakening of these organizations by the neoliberal states all over the world, North and South alike. This too has some significant implications for both voice representations of labour as well as capital accumulation in the Marxian sense of the latter term. In the third section, the chapter delves into the issue of representation of labour in the neoliberal age. Finally, an attempt is made to decipher the connectivity of flexible labour and weakening bargaining strength of labour with the process of growing financialization and its implications for capital accumulation in post-colonial neoliberal space and time. Keywords Labour · Neoliberalism · Labour market flexibility · Representation · Financialization As far as the neoliberal age of global capitalism is concerned, labour market is characterized by more and more flexibility. This flexible labour market is marked by two features in general. One is growing flexibilization of formal labour market and the second is growing flexibility in all kinds of labour market taking the formal as well as informal together. The basic idea of formal labour market is related to organized factory-based manufacturing labour. In a country like India, B. Dasgupta (*) University of Kalyani, Kalyani, West Bengal, India e-mail: [email protected] © Mahanirban Calcutta Research Group (MCRG) 2017 I.K. Mitra et al. (eds.), Accumulation in Post-Colonial Capitalism, DOI 10.1007/978-981-10-1037-8_2
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as in the developed capitalist world, formal labour market rules and regulations are also extended to parts of the services sector. If the immediate post–World War II era was marked with a growing tendency of enacting rules and regulations for labour in the formal sector of the economy, the neoliberal era thereafter for the past three decades has been marked with growing deregulations of rigid labour rules. This to our understanding is grossly related to the nature of capital accumulation in the neoliberal age. This chapter links labour market flexibility with capital accumulation in the context of a post-colonial country like India. It is organized in four sections starting with an understanding of neoliberal age and the nature of capital accumulation in general in the context of a post-colonial economic space. This is followed by an analysis of labour market flexibi
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