Freedom of Contract and Property Rights

Introduction

There is an existing traditional law that is bound to adopt for the fairness in terms of employment. The idea of freedom in choosing the right opportunity, freedom to be engaged in a contract, and freedom to acquire property rights are part of the individual rights. The ideas were promoted to establish such kind of equality for the employee and employer and for the relationship of the two. The recognition of this idea has been evolved, adopted and implemented in every parts of the world. This regulation about the employment rights is being protected, respected and couched on the language that is more comprehensive to the understandings of the individuals.

Equality, Security and Rights in Employment

The model for social democratic state is being fueled with the concept of welfare. The protection gave for the workers are also the rights and protection for the individuals. Freedom is the natural right of every individual already given to them since birth and therefore, the employment law only enhances the right already given and aims to attain the balance of power between the employer and the employee. However, the idea of rights is consistently changing according to the character of the protective legislative body. In due to the revolving issues and timely situation, the idea of rights means no longer a gift for an individual but as a right of the working people.

On the other countries or stated, there is an existing model that is under to the common law that also represents the rights and freedom. Following the common law, it places the emphasis on freedom of contract and individual rights which proposes the judicial values. The important feature of the welfare states the return of the workers and cooperating according to the commands of the management or the organization. In accordance to this, the management will not going to abuse the authority or the power on handling employee rather, guaranteeing the employee the sense of security and the participation for their career goals (Nivet, 2004). Moreover, many contexts include or highlighted that the freedom of contract and of the property are the best way of raising the standards of living of an individual and competency level in terms of employment. The labor market endures a heavy burden in maintaining the worker’s rights. But in the consent of creating a great standard is the best strategy to develop the human resource according to the bid of the global competition (Hepple, 2003).

The regulatory of employment can truly improve the economic performance (Barak-Erez, 2006). This employment regulation accepts the idea of delivering the core basic worker rights that can correct the market failures and have a potential in foreseeing the market outcomes. It is because it ensures and encourages the trust and partnership in leading in the economic performance.

Freedom and Rights

The creation of contract comprises the two essentials which is first, promoting the trade and protecting the acquired resources for future use; and second, voluntarily creating the contracts to enhance the economic welfare of both parties. These ideas gave way to the market regulation to protect the rights of the two parties since they are making the contract based on their consent and freedom.

The application of the employment regulation and labor law possess the harmony of the labor market and mandatory of employment. Labor markets emphasize the idea of the operational actions of the demand and supply and the role of its coordination in terms of the wages of the laborers that is written or included in the labor contract. The best example of the employment law are the minimum wage that usually suggest any applicable increase and child labor law that strictly implemented fort eh child’s own protection. Meanwhile, the Employee mandates are the stipulation that states and bounds the employers to provide the particular condition or employment term such as insurance and tax provisions. Some example of this is the right to acquire leaves and opportunity to grab any promotions (Kaufman, 2008). In economics, the employment law gives rise to the regulation of the employment relationship that provides both theoretical and ethical core for what is best described as the traditional approach to the labor and employment.

Conclusion

The freedom of contract and property rights has never been a question in every state – simple because it only enhances the right already given to each individual which is only enacted in the working conditions. The modification of every regulation and law is based on the changing modern world that is guided and influenced by different models and theories. Still, the rights are given as part of the employment regulation and relationships of the employee and employer.

References:

Barak-Erez, D., 2006. Law in Society: A Unifying Power or a Source of Conflict? [Online] Available at: http://www.tau.ac.il/law/barakerez/articals/freemanbook.pdf. [Accessed 06 Jan 2010].

Hepple, B., 2003. Rights at Work, International Institute for Labor Studies in Geneva. [Online] Available at: http://www.ilo.org/wcmsp5/groups/public/---dgreports/---inst/documents/publication/wcms_079079.pdf. [Accessed 06 Jan 2010].

Kaufman, B., 2008. Labor Law and Employment Regulation: Neoclassical and Institutional Perspectives. [Online] Available at: http://aysps.gsu.edu/usery/files/08-7-2%20Kaufman-MinimumWageEfficiency.pdf. [Accessed 06 Jan 2010].

Nivet, J., 2004. Corporate and Public Governances in Transition: the Limits of Property Rights and the Significance of Legal Institutions. The European Journal of Comparative Economics, Vol. 1, No. 2