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Old 26th November 2023, 10:08   #1561
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Re: Understanding Economics

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Originally Posted by dragracer567 View Post
Some of the facts stated in this video are just jaw-dropping - a reminder that our economic growth carries many challenges along with it, least of all, our attitudes towards women.

Of course, these statistics & facts might seem alien to us upper-middle-class lot, since we've grown up seeing women in our family and friends circle prosper in their respective careers, an unfortunate bubble we live in. Also matters by region, Tamil Nadu has a relatively higher rate of female employment due to a strong manufacturing sector while based on what I've heard from my friends, some rural areas of UP, Bihar & even Haryana are no better than pre-2017 Saudi Arabia. Economic growth won't fix everything I assume.
In most of India especially North, East and Central a large part of the farming work is shouldered by women. I wonder where that gets accounted for in studies like this one. The men control the "economic" end of the activity - harvest, transport to the mandi, selling, collecting the sale proceeds etc but the women do the heavy lifting or such has been my limited observation.
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Old 26th November 2023, 12:13   #1562
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Re: Understanding Economics

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Originally Posted by V.Narayan View Post
In most of India especially North, East and Central a large part of the farming work is shouldered by women. I wonder where that gets accounted for in studies like this one. The men control the "economic" end of the activity - harvest, transport to the mandi, selling, collecting the sale proceeds etc but the women do the heavy lifting or such has been my limited observation.
This was partially addressed in the video. The contention was that while women were employed in farming work in decent numbers but there had been a reduction in the workforce employed in agriculture in recent decades - I'm assuming due to better technology. While in East Asian economies, this surplus labor was absorbed by a growing manufacturing section, employment in the manufacturing sector has been stagnant while services (which also employs a lot of women & include selling in Mandi etc) don't have the scale to absorb the excess labor available. Much of the labor is being absorbed by the construction industry instead which according to the video doesn't favour women (But I've seen a lot of women in construction in India, though my exposure is too limited). Then offcourse, there is the fact that there is a general increase in unemployment.

Understanding Economics-employment-ratio.jpg

I'm curious about another fact claimed in the video. It is claimed that most businesses in India don't expand to more than 9 workers since having 10 workers or more would expose them to arcane labor laws. I'm hearing for the first time though, is this outdated information?
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Old 26th November 2023, 12:38   #1563
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Re: Understanding Economics

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Originally Posted by dragracer567 View Post
I'm curious about another fact claimed in the video. It is claimed that most businesses in India don't expand to more than 9 workers since having 10 workers or more would expose them to arcane labor laws. I'm hearing for the first time though, is this outdated information?
No, it is not outdated. The moment you reach 10 employees, you have to provide EPF, ESI, Gratuity and implement POSH act. I won't call them arcane labor laws, but they are pro-employee laws. It will increase the paperwork, and doesn't let employers fly under the radar.

Most minimum wage employees don't like EPF because it takes a big bite out of their paycheck. I remember one young employee who wanted his salary offer told in net and not gross. He didn't want to know about taxes or other deductions.

Last edited by Samurai : 26th November 2023 at 13:06.
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