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Authors
Affiliations
1 Department of Economics, Georgia State University, Atlanta, GA USA, US
Source
Indian Journal of Industrial Relations: Economics & Social Dev., Vol 50, No 1 (2014), Pagination: 2-23
Abstract
Sidney and Beatrice Webb, cofounders of the industrial relations field and early pioneers of Fabian Socialism significantly influenced Jawaharlal Nehru and India's post- Independence model of economic development. Part of this model was a protectionist regime of labor law which has now come under increasing criticism as a structural impediment to growth. This article reviews the ideas of the Webbs and uses them as a prism for evaluating the case for labor law reform and the direction it should take. The article advances a three-prong conclusion: the Webbs' program for labor market regulation remains sound in principle but the specifics in India need substantial adjustment; the most important way to generate higher employment growth is not from labor market deregulation but continued liberalization of product markets and encouragement of entrepreneurship; and the most critical pro-growth reform is more efficient and honest institutionalregulatory governance.
