The Establishment of a Global Authority and a Single Framework for the Financial Products: Labour Policies and Economic Challenges

Athanasios G. Panagopoulos


Free markets (Laissez-faire) do not necessarily optimize the balance between work and the level of income and consumption. In incompletely informed markets, active labor policies can improve the balance between the unemployed and job vacancies, as well as income disruptions from uninsured work, increasing employment and production. This, in turn, increases the income of factors that are complementary to work: in fact, where work is the most important source of income for most individuals, however with political decisions, less weight may also be given to other income factors. This is especially true in societies with high wealth inequality, where active policies have less political support than passive policies, which increase the lack of earnings per unit of labor against other factors of production, or balance higher income from work with low productivity and non-working income. Consequently, in a unified and regulated framework, as proposed, and in which the money markets mainly tend towards perfection, "passive" labour policies tend to prevail, especially in societies where there is a higher than average, social wealth, but also less inequality of income from work. Otherwise, if there are inequalities in workers' incomes, in these markets, we need more "active" policies, which will support the production of income by other factors complementary to labour.

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International Journal of Business Administration
ISSN 1923-4007(Print) ISSN 1923-4015(Online)


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