The concept of Economic system, Social Importance of Work and Occupation, mechanization of Work and the Decline of Traditional Skills, Property, Division of Labor as a socio — economic system, Social

Labour law exists because work is never just an economic transaction — it is a social relationship carrying status, identity and, in India's villages, an entire traditional order of caste-based service that the Jajmani system once organised. Understanding the economic system as sociology does explains why laws on minimum wages, factory conditions and property are really laws about social relationships, not just money.

In two minutes

The economic system is the socially organised way a society produces, distributes and exchanges goods and services, and it is bound up with work as a source of social identity, with property as a socially recognised institution, and with the division of labour, whose traditional caste-based form in Indian villages was the Jajmani system.

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