Indian Journal of Public Health Research & Development

  • Year: 2019
  • Volume: 10
  • Issue: 9

Impact of Market Economic Principles on Workplace Anxiety and Stress

1Research Scholar, Department of Social Work, Amrita School of Engineering, Coimbatore, Amrita Vishwa Vidyapeetham, India

2Assistant Professor, Department of Social Work, Amrita School of Engineering, Coimbatore, Amrita Vishwa Vidyapeetham, India

Online published on 13 November, 2019.

Abstract

The mainstream economic policies that have almost become a global narrative post the World War II have been that of the Free Market Economy. The key principles of this narrative include free labour market, free trade and the self-regulating market mechanisms. These principles essentially stem from the formalist economic principles that found its manifestation as classical and neo classical economic theories.

While “Maximization of Social Welfare” has been professed as the ultimate goal of this principle, there are incriminating instances and evidences where adoption of these principles has led to conflicts at micro (individual) and macro (societal) levels in society through increase in workplace anxiety consumerism, inequalities, poverty, identity conflicts, reduction in social capital, social cohesion etc.

This paper attempts to establish the how the outcome of market economic principle led policies such as inequality, individualism, social capital and globalized workplace contributes to workplace anxiety and stress.

Keywords

Market Economy, Formalist Economy, Globalisation, Inequalities, Social Capital, Identity Conflict, Decision Latitude, Social Welfare