As such, two of the actors in the industry were actively participating in creative a framework for the market forces to operate in. A third important shareholder, the consumer, is, however, not consulted in this process. The article shows the political debate arising from the economic dispute as well. The Labor Party insists that this resolution is a move of its political opposition aimed at not defending the rights of the workers, but rather at ensuring that a regulatory body has virtually unlimited powers that it can apply to workers in the respective industry.

This assertion seems rather far fetched. First of all, this is a measure that affects both the workers and the employers, so it will not create an advantage for one of the parties to the detriment of the other. Second of all, this is an overarching body, with a role in the entire industry, not limited to the category of construction workers. However, this comes as an additional argument of how intertwined economy and society are: what could be interpreted as an economic dispute quickly becomes a political and social/societal one, with the implication of a large category of shareholders.

The analysis of this article shows not only how economy is part of society, but also how interrelated the two are. First of all, the economic shareholders are also the main...

In economy, the relationship between employers and workers will determine the efficiency of the business and the capacity of the employers to achieve the proposed objective of maximizing the company's profit.
At the same time, some of the parties of this debate over the role and reach of the economic regulatory body are, in fact, representatives of society, ensuring the connection and communication between the society and the industry and economic world. Such parties include the work relations minister, as part of the government, and the Senate. These entities help moderate the different currents in society, reach a common agreement between different parties and implement and defend the framework in which economic relations will develop.

Bibliography

1. Clark, B. (1998). Principles of political economy: A comparative approach. Westport, CT: Praeger

2. Stigler, George J. 1941. Production and Distribution Theories: The Formative Period, MacMillan

3. Krishna Bharadwaj (1989) "Themes in Value and Distribution: Classical Theory Reppraised," Unwin-Hyman

4. Samuel Hollander (1987)). Classical Economics. Oxford: Blackwell.