Page 113 - Understanding Economics for Class 10

due to globalisation. They should try to provide them alternate employment (if they
take it as their responsibility towards society).
(iv) Workers have to update themselves with new technology and skills so that they can
find alternate employment in case they lose their job.
Goyal Brothers Prakashan

3. One of the present debates in India is whether companies should have flexible policies
for employment. Based on what you have read in the chapter, summarise the point of
view of the employers and workers.
Ans. Point of view of the employers
They want to employ workers on temporary basis as and when required. They do so,
to cut their cost of production because cost of raw materials cannot be reduced. During
peak season time, they can employ extra workers and when the work is done, they can
fire them to reduce cost.
Point of view of the workers
Workers want permanent employment because they want a regular income to run their
family. Besides regular salary, they also want extra benefits like to health insurance,
provident fund, overtime etc. they prefer a secured and stable job.

tHe struGGLe For A FAIr GLoBALIsAtIon

 Not everyone has benefited from globalisation. People with education, skill and wealth
have made the best use of the new opportunities. On the other hand, there are many
people who have not got the benefits.
 Fair globalisation opportunities can be created for all, and also ensure that the benefits
of globalisation are shared better.
 Government plays an important role in making it possible by formulating policies that
must protect the interests, not only of
the rich and the powerful, but all the
people in the country.
 For example: government should
ensure that labour laws are properly
implemented and the workers get
their rights.
 Support should be given to small
producers so that they can improve
their performance and becomes
strong enough to compete.
 Trade and investment barriers can A demonstration against WTO in Hong Kong. 2005
also be used by government. (Courtesy: NCERT)
 It can negotiate at the WTO for ‘fairer rules’.
 To fight against the domination of developed countries in the WTO, It can also align
with other developing countries with similar interests.
 Massive campaigns and representation by people’s organisations in the past few years
have influenced important decisions relating to trade and investments at the WTO.

Economics Class X E-99