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Seth, Vijay K
- Flexibility Paradigm and Restructuring of Labor Markets in Developed Market Economies
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Authors
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1 Faculty of Management Studies University of Delhi Delhi
1 Faculty of Management Studies University of Delhi Delhi
Source
Journal of Management Research, Vol 1, No 4 (2001), Pagination: 233-248Abstract
Developed market economies collectively experienced yet another crisis in the 1980's, like the Great Depression of 1930s, known as stagflation. Economists believed that this crisis has emerged due to the rigidities in the supply side that have been created by the regulations and institutions to avoid reoccurrence of recession. Therefore, they suggested the restructuring of the economy by removing all regulations and institutional constraints through policy reforms. It has been argued in this paper that in the developed market economies, the technology of mass-production which developed symbiotic existence with the policies of mass-consumption (higher aggregate demand) has created the supply side rigidities. The removal of these rigidities requires restructuring at the enterprise level. Policy reforms provide only necessary conditions for bringing about micro-level restructuring but do not provide sufficient conditions. Wherever, policy reforms provided enough incentive for the restructuring at the enterprise level, those economies were able to overcome the crisis earlier than the others. This according to the author, explains the diversity in the impact of policy reforms on the performance of different developed market economies.Keywords
Labor Market Flexibility, Functional Flexibility, Numerical Flexibility, Flexible Manufacturing, Fordist Methods
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Authors
Affiliations
1 Faculty of Management Studies University of Delhi, Delhi
1 Faculty of Management Studies University of Delhi, Delhi
Source
Journal of Management Research, Vol 3, No 2 (2003), Pagination: 73-86Abstract
Industries of developed market economies experienced a structural transformation in the form of a shift from the use of methods of mass-production or Fordist methods to modern flexible method of production. The shift in the organization of production led to several studies, which examined the historical process, which reduced the popularity of methods of mass-production and paved the way for the adoption of flexible methods of production. However, there is a paucity of studies, which describe and analyze the method of organization of production that existed prior to the emergence of methods of mass-production. Present study is a modest attempt to expose the students and researchers of management to that system and explain the historical process, which led to its origin and subsequent decline. The system has been defined here as primitive flexible system of production, because the only characteristic which distinguishes the modern flexible methods of production from primitive flexible method of production is the level and the complexity of the technology being used.Keywords
Fordism, Modern Flexible Production System, Proto-industry, Premitive Flexible Production SystemReferences
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