The first of May is officially commemorated as Workers Day. Workers day is an acknowledgement of the dignity, and vitality of the workforce within the spectrum of economic growth. The labour market is undoubtedly the axis of economic and social development.
Society is woven together by the different skills of people, each complementing the other.
Good relations between Labour and Capital are undoubtedly necessary for healthy economic growth. However, we need to guard against being duped into believing that our economic woes are primarily because of the conflict between Capital and Labour. Trade Unions, strikes, and demonstrations inadvertently detract from the real impediment to the growth of developing countries, and to the equitable distribution of wealth. The real culprits are the financial houses like IMF and World Bank that dictate the internal policy of countries. The IMF and World Banks are largely controlled and owned by the developed nations such as USA, UK, and Japan.