Labour Regulation in the Global Economy

Vocabulary flashcards related to labour law and its implications within the global economy.

Labour Law

Regulates the employment contract and protects workers' rights.

Trade Union

An organization formed by workers to protect and promote their collective interests in the workplace.

Collective Bargaining

Negotiation between trade unions and employers about working conditions.

Collective Agreement

An agreement made by a union that is signed by the employees of the company to improve working conditions.

Subordination

The condition where employees are under the authority and control of employers.

Freedom of Association

The right of employees to join or refrain from joining trade unions.

Core Labour Standards

Fundamental principles and rights at work as outlined by the ILO, including non-discrimination and the abolition of child labour.

ILO (International Labour Organisation)

A UN agency that sets international labour standards and promotes decent work globally.

Social Dumping

Undercutting labour standards by competing based on lower costs rather than on productivity.

Most Favoured Nation Principle

WTO rule that requires countries to treat all members equally in trade.

Economic Dependence

A situation where a worker is economically reliant on a single client or employer.

Gig Economy

A labour market characterized by short-term and flexible work arrangements, often facilitated by digital platforms.

Algorithmic Management

Management practices that utilize algorithms to oversee employee performance and decision-making.

Universal Basic Income (UBI)

A form of income support that provides all citizens with a regular, unconditional sum of money from the government.

Minimum Wage

The lowest wage legally payable to workers, which can be set by law or collective agreements.

Collective Agreement

A contract between an employer or employers' association and a trade union regarding working conditions.

Bluewashing

The practice of a company using the UN’s image to appear ethical without real action.