Balancing Free Market Value and Social Justice in Employment Contract

The constant economic inflation worries our society, especially our government, as the citizens pressured them. Not to mention how the price influx in the market causes employers to find alternative routes to keep their business alive. Throughout the century, the effect of the free-market economy has been debated. Free market systems build on the principle of no intervention from the government. Will zero government help the market economy, and will the concept of freedom in the free market give justice to the employer and employee? Through doctrinal research, this paper aims to study the relationship between the free market and the employment contract based on social justice theory. As a result, this paper tracked down primary and secondary sources from journal archives and online databases related to employment contracts. International philosophers and judicial views also examined Malaysian legal perspectives on social justice and employment contracts. This paper uses empirical research to discuss the effects of the market system on social justice in employment contracts. The main findings are the following: (۱) a free-market system is a system that enables a firm to market its products in a way that does not interfere with one's economic freedom; (۲) the exploitation of cheap labor has become one of the main strategies for businesses to maximize advantages; (۳) the vulnerability of workers from economic theory demands employers to pay decent wages in exchange for labor demand; and (۴) the social injustice issues that have arisen due to this liberalization

Keywords:

Economy , market , employment , Social Justice