Labour Productivity, Wages and Profits in a Developing Economy : With Special Reference to Coal Mining Industry of India
Contents: Acknowledgement. Preface. 1. The concept of labour productivity. 2. Determinants of productivity. 3. Productivity, wages and profits: a theoretical view. 4. Productivity in coal mining industry: a statistical study. Appendix: a. Production of coal in India 1939-66. b. Average number of persons employed daily in the coal mining industry of India, 1939-66. 5. Technical factors affecting productivity in the coal mining industry. 6. Human factors affecting productivity in the coal mining industry. 7. Wages and productivity in the coal mining industry. Appendix: a. Average daily earning of mines in Jharia, 1939-50. b. Over-all average weekly wages of coal mine workers 1951-66. c. Cost of living indices for Jharia, 1939-66. 8. Profits and productivity in the coal mining industry. Appendix: a. Indices of industrial profits; coal mining, 1950-51 to 1966-67. b. Index of profits in the coal mining industry (composite) 1950-51 to 1966-67. 9. Productivity, wages and profits: appraisal and approach. 10. Concluding observations. 11. Epilogue. 12. A glimpse: an overview. Select bibliography: a. Books. b. reports. c. Journals.
"Productivity plays a crucial role in economic development and growth. The book first deals with the concept and determinants of labour productivity. The theoretical model on which this research work is based is applicable both to micro-economic and macro-economic plane. The coal mining industry, being an extractive one, the productivity of this industry has an additional dimension: that of, conservation of resources. This is because, the raising of labour productivity, and thereby, maximising profit, often runs into conflict with the principle of conservation of resources. An economist can only furnish the conceptual aspect of the phenomenon in economic terms, not technical optimal combination.
On correlation with wages and non-wages income, it has been postulated that the major share of gains in labour productivity should accrue to the workers until the wages reach a fair level in keeping with health, efficiency and incentive of the workers. Beyond that, the productivity gains should be shared by labour and enterprise in an equitable manner. It should, however, be ensured, in a developing economy, that the productivity gains accruing as non-wage income is not frittered away on conspicuous consumption, and reinvested for raising the labour productivity itself through development along scientific lines and modernization so as to, on the whole, promote economic development." (jacket)
