The fragmentation o the labour market
Published: Thursday, 10 March 2011 14:56
...Since the war we have, of course, lived through changes which were retarded by various conservative forces, such as managerial inertia and trade union immunities, but not ultimately denied. Our heavy industries have been in decline for a very long time (in Glasgow since before the First World War).
More recently, the drive for profitability in newly competitive arenas which have been privatised or liberalised, together with increased exposure to international competition and the introduction of new technologies, has been squeezing labour out of the system.
This process was masked by the boom in the service industries in the eighties which, as it turned out, was insecurely based on a credit binge. Had the IRA succeeded in blowing up the tower at Canary Wharf, there would have been gratitude in surprising places.
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