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Rerum novarum (from its incipit, with the direct translation of the Latin meaning "of revolutionary change" [n 1]), or Rights and Duties of Capital and Labor, is an encyclical issued by Pope Leo XIII on 15 May 1891.
United States labor law sets the rights and duties for employees, labor unions, and employers in the US. Labor law's basic aim is to remedy the " inequality of bargaining power " between employees and employers, especially employers "organized in the corporate or other forms of ownership association". [ 3 ]
Labor rights are a relatively new addition to the modern corpus of human rights. The modern concept of labor rights dates to the 19th century after the creation of labor unions following the industrialization processes. Karl Marx stands out as one of the earliest and most prominent advocates for workers' rights.
Laborem exercens begins with a scriptural argument that work is more than just an activity or a commodity, but an essential part of human nature.. The Church finds in the very first pages of the Book of Genesis the source of her conviction that work is a fundamental dimension of human existence on earth. ...
The National Labor Relations Act, enacted in 1935 as part of the New Deal legislation, guarantees workers the right to form unions and engage in collective bargaining. The Age Discrimination in Employment Act of 1967 prohibits employment discrimination based on age with respect to employees 40 years of age or older.
Capital loss is the difference between a lower selling price and a higher purchase price or cost price of an eligible Capital asset, which typically represents a financial loss for the seller. [ 1 ] [ 2 ] This is distinct from losses from selling goods below cost, which is typically considered loss in business income.
So, the employer also buys unproductive labour because the employer's costs in this respect are lower than the loss of value that would occur, if he did not employ unproductive labour to maintain capital value, and to prevent loss of capital value. For example, cleaning work might seem a very menial and low-value activity, but if business ...
In his labor theory of property, Locke stated that property is a natural result of labor improving upon nature, and thus by labor expenditure the laborer becomes entitled to its produce. [10] Influenced by the rise of mercantilism , Locke argued that private property was antecedent to and thus independent of government.