concessions , incentives and write off their huge loans to ensure their profits but will not purchase their unsold stocks in the godowns .
It is necessary to increase aggregate demand to save the exploitative capitalist forces from a profit crisis . In this process , the gig system emerged to provide various kinds of services to the middle class which were previously available only to the wealthy . This exercise became easy due to the availability of advanced technology which resulted owing to the research done by the public and private sectors for a long time . On the other hand , the working class which is in critical conditions is ready to accept any extent of labour exploitation . At the same time , the neo-liberal policies could reform and abolish all the laws which are pro-worker . All this could strengthen the framework to create all the opportunities to intensify labour exploitation . As a result , the gig system has emerged and expanded . Even in the production and service sectors , the existing contractual employment is gradually shifting to the gig system . The ILO ’ s “ Expansion of Gig and Platform Economy of India , 2024 ” states that the gig system has emerged due to a rise in the unemployment . The CMIE report which compared the level of employment during Jan 2020 - Jan 2022 , has stated that there is a slow recovery in the lost jobs . No regular employment . Only miserable self-employment for survival . Therefore , the gig economy has expanded speedily . The study of “ Teskmo Gig Index ” says that the youth with university degrees are also entering into gig system as no jobs are available . It is the main source of livelihood for 80 percent of gig workers . The other side of the coin shows that the gig system is responsible for declining real wages and regular jobs in the organised sector . The strengthening of exploitative monopoly capitalist December-2024 structures under the framework of neo-liberal policy framework will not create decent employment . The gig system is the only option available for the majority of the workforce . ASSOCHAM report says that in India , the value of gig economy products is expected to reach to $ 455 billion by 2024 .
The ILO says that the companies will dominate and exercise monopoly power in the platform business models . No relationship among workers in the gig system . The app companies will strengthen this phenomenon to prevent unionisation of workers and their collective spirit . Still , they could use social media for their consolidation . At present , the All India Gig Workers Union and the Indian Federation of Gig based Transport Workers are strong unions of gig workers . There is no law to control the tendency of intensifying labour exploitation . The Social Security Code , one of the four labour codes passed in 2020 , says that gig workers are part of the unorganised workers and therefore , will be eligible for insurances related to life , accident , and old age . Exploitative Monopoly Capitalist System Escalates Working Class Crisis :
The unrestrained privatisation and marketisation could strengthen the exploitative neo-liberal capitalist system . The domination of finance capital has reached its peak . The aim of Finance Capital is to earn profits as quickly as possible . Therefore , the investments will be diverted mainly to speculation sector . The finance capital itself is the main obstacle for the survival and expansion of the production system . Therefore , the production system will be squeezed . The public sector is not allowed to survive . The entire social structure will come under the domination of finance capital . The excessive economic inequalities are continued to be strengthened . The finance capital will control the labour and working class . They are subjected to universal alienation . The situation will appear as if the survival of labour itself is on the mercy of capital . This phenomenon will be popularised continuously . Karl Marx rightly said that the survival and growth of capital itself is based on labour exploitation . No generation of new employment and only job losses . In all the countries of the world , the unemployed reserve army is growing continuously . However , this problem is more severe in emerging economies , including India .
The working class should work continuously for their survival . The informalisation has been strengthened . The gig system has emerged in the process of converting the depressive conditions of the working class into the profits of monopoly capital . The system is supported by modern technology in various forms . The app companies mediate between gig workers and customers . The intermediation itself became a powerful means of production . This is in the control of to the app company . The gig labour is subordinated to app company . The level of labour exploitation will be high . The intermediation becomes a strong part of the global accumulation . The means of productive accumulation is to loot the labour which has enormous use value in the name of unproductive labour . To perform gig work , the workers are to wait for work continuously which has boundless use value , without which timely completion of tasks is impossible . In the gig system , the waiting time is alienated and it is unpaid labour . This will be appropriated by the app company as profits .
The gig system has ensured the accessibility of various kinds of facilities and services to the middle class . This will be attractive to them to enjoy the services . In the present context , dominating somebody became a significant privilege . contd . in page 08 5