BİLDİRİ KİTABI

AYDIN İKTİSAT FAKÜLTESİ
1.5. Employer Oriented System
In market economy, employer oriented and controlled system is the other parameter to be
focused upon. Nevertheless, it is necessary to analyze the function of employer depending upon
two different periods: 19 th century and 20 th century. The reason is that the sole possessor,
controller and director of industrial system was employer himself in 19 th century which gave
the idea that capital was much more significant than labour. So was the employer. However, in
modern industrial relations established in 20 th century and prioritized labour with employer,
three actors and their institutionalized extensions such as employee (trade unions), employers
(trade unions), and the state came to fore. 54 In the systematicity of modern industrial relations,
it can be regarded that employee with employer work in collaboratively and coordinately with
one another through the usage of social dialogue mechanisms which was not the case for the
first initiatives in 18 th and 19 th century (Hyman, 2003: 37-57).
1.6. No State Yes Private Initiatives
Economic liberalism is the key element of capitalist ideology that stems from Laizzez-Faire
philosophy. In this philosophic approach, economy as the mechanism of production,
consumption and allocation, relies upon private initiatives including pricing of goods and
services and labour and everything. Private initiatives and entrepreneurship are yes but state or
other apparatuses that are capable to intervene in the economy are out. To the normative values
and also the legislative system, employers and the employees have equal rights and claims and
their relationships are characterized by freely as well as voluntarily. Normative values enforce
the system to select employees and employers freely and equally, but the positive norms
demonstrate the idea that the whole process in labour markets is dictated by the employers and
the state is far from regulating the system. This type of system results in the exploitation of the
employees and their sustainable but miserable suffering (Sinha, Sinha, and Shekhar, 2009: 3).
2. Islam and Labour
Islamic finance is defined “as a financial service principally implemented to comply with the
main tenets of Sharia (or Islamic law)”. The particular sources of Sharia are the Holy Quran,
Hadith, Sunna, Ijma, Qiyas, and Ijtihad. The Holy Quran is the book of Allah given to Prophet
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Without trade unions, it is impossible to talk about the modern industrial relations. What makes industrial
relations modern and institutionalized is the presence of trade unions or unionism. Trade unions play a very crucial
role on “the methods of production of goods and services, their distribution, the allocation of economic resources,
the volume of employment and unemployment, the character of rights and privileges, policies of governments, the
attitude and status of large masses of population, and the very nature of economic and social organizations” (Sinha,
Sinha, and Shekhar, 2009: 1).
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