ECONOMICS IN OZ

The conflict has been a problem for economists for decades. on one hand interest of employers on the 1st paragraph. employees = only source of income support a family want the best wage. To the employers the employees for the least possible cost for the business, pay is a cost of production want the wages kept low. 2nd paragraph. one hand have higher wage rates other lower wage rates needs to be a compromise. known as industrial relations. needs to be laws, processes and institutions established to resolve disputes in labour market. known as Industrial Relations System governing system
Australia fair days wage for a fair days work employed safeguards. These help to prevent the employers misusing powers on workers. twentieth century system of special tribunals make decisions wage and industrial disputes nowadays these tribunals have less power more emphasis market sy...