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The continuing rise of the 'gig economy' has been phenomenal - Leaving Cert Economics - Question 7 - 2020
Question 7
The continuing rise of the 'gig economy' has been phenomenal. However, some workers seek an increase in regulation associated with the 'gig economy' and zero-hour co... show full transcript
Worked Solution & Example Answer:The continuing rise of the 'gig economy' has been phenomenal - Leaving Cert Economics - Question 7 - 2020
Step 1
Outline two arguments in favour of increased regulation of the 'gig economy'. (i)
Answer
One argument is the Protection of employee rights. In the past, employees have faced exploitation through zero-hour contracts, where their work availability is inconsistent and they are only compensated for hours actually worked. Increased regulation can ensure that employees have guaranteed hours and a fair wage, protecting them from such exploitation.
Step 2
Outline two arguments in favour of increased regulation of the 'gig economy'. (ii)
Answer
Another argument is Certainty to the employee's standard of living. With regulated hours and guaranteed pay, employees can have a stable income, which helps improve their living standards and enables them to plan for the future more effectively.
Step 3
Outline one argument against increased regulation of the 'gig economy'.
Answer
A key argument against increased regulation is the Disincentive to work. The flexibility of gig work is appealing to many employees. If regulations make these positions more rigid or introduce certain restrictions, it could deter individuals from seeking or continuing work in the gig economy, thus reducing job availability and flexibility.