role of parties in deciding compensation
Answers
Answer:
Parties make up trade union......
Explanation:
Trade Unionism grew as one of the most powerful socio-economic political institutions of our time – to fill in the vacuum created by industrial revolution in industrial society. It came as a countervailing force to reconcile social and economic aberrations created by Industrial Revolution. Individual dispensability and collective indispensability was the basic principle for its formation. United we stand and divided we fall is the philosophy. The government policy of “Laissez-faire” left the working class at the mercy of mighty employers. The worker lacked bargaining power and seller of most perishable commodity (labour) he was no match for the mighty employer. The supply of labour was more and demand was less. Employers employed them at their terms, which were exploitative. The exploitation of labour was at its peak.
Combination of workers was considered as ‘criminal conspiracy’ and the terms of contract was regulated by workman Breach of Contract Act, 1860 and general law of the land. Discontent was brewing. Liberal democratic and revolutionary ideas (set in motion by American war of Independence, French Revolution and Thinkers like Rousseau & Marks etc.) of the time fanned the discontentment which was a smoldering since long and gave birth to an institution known as “trade union.”