Examine the arguments for and against international labour standard Essay

Examine the arguments for and against international labour standard - Essay Example Furthermore, the government prohibits in trade union formations amongst work force. These factors have stressed the superiority of capital market on labor market. The work force is under severe oppression and deserves much better dealings than they are presently receiving. There are billions of people getting less than a dollar in a day and working in malnourished condition. However, in this case we note that 80% of foreign direct investments flows from one advanced nation to another. Neoliberalism hasn’t delivered on its egalitarian promises†¦.and by 1999, the wealth of the world’s 475 billionaires was greater than the combined income of the poorest half of the humanity†. (Featherstone, L (2002, p Viii). The portions of investments, which are going to the developing economy, are not essentially once with low wage level. This does not mean that the free trade is a negative approach. A better socialistic approach needs to be maintained to handle the ill effects of open trade. A different dealing with corporate greed has to be done from government perspective. In recent time lots of changes have been incorporated, companies with image issues like Microsoft and Shell has gone in for charitable moves. In recent days the corporatio n has taken a â€Å"community betterment† approach attached to their vision statement, though the money making motive remains the main goal. In capitalist market there is a fear of lowering of the living standard from the competitors in labor market economies. (Beneria and Bisnath, 2004, pp 173-176). Therefore widespread grievances on immigrations are expressed in the developed world. In this context the example of China and India can be sited. In case of China, there is a rural migrant moving from villages. These people are working for seven days a week with a daily commitment up to 12 hours. On the other hand,