abstract: 'Purpose - The purpose of this paper is to examine the role of specific

  active labour market policies (ALMP) and increased use of zero hour

  contracts (ZHCs) in creating an environment in which low-wage jobs

  flourish. Alongside these, it examines the role of financialization over

  the last 30 years in fostering the nuturalization of policies that

  institutionalize low wages and deregulate the economy in favour of big

  business.

  Design/methodology/approach - This paper draws upon academic literature,

  official statistics, and analyses via the concept of neoliberalism.

  Findings - This paper demonstrates that via a set of interconnected

  macro and micro factors low pay is set to remain entrenched in the UK.

  It has demonstrated that this is not the result of some natural response

  to labour market demands. Far from it, it has argued that these policy

  choices are neoliberal in motivation and the outcome of establishing low

  pay and insecure employment is a significant character of the

  contemporary labour market is deliberate.

  Research limitations/implications - This paper encourages a re-think of

  how the authors address this issue of low pay in the UK by highlighting

  alternative forms of understanding the causes of low pay.

  Practical implications - It presents an alternative analysis of low pay

  in the UK which allows us to understand and call into question the

  low-pay economy. In doing so it demonstrates that crucial to this

  understanding is state regulation.

  Social implications - This paper allows for a more nuanced understanding

  of the economic conditions of the inequality caused by low pay, and

  provides an argument as to alternative ways in which this can be

  addressed.

  Originality/value - The paper examines the relationship between the rise

  of neoliberalism and finance capital, the subsequent emergence of the

  neoliberal organization, the associated proliferation of ALMP and ZHCs,

  and the impact of these on creating a low-wage economy. It makes the

  argument that the UK''s low-wage economy is the result of regulatory

  choices influenced by a political preference for financialization, even

  if such choices are presented as not being so. Thus, the contribution of

  this paper is that it brings together distinct and important

  contemporary issues for scholars of employee relations, but connects

  them to the role of the state and neoliberal regulation.'
affiliation: 'Grady, J (Corresponding Author), Univ Leicester, Sch Management, Leicester,
  Leics, England.

  Grady, Jo, Univ Leicester, Sch Management, Leicester, Leics, England.'
author: Grady, Jo
author-email: jkg10@le.ac.uk
author_list:
- family: Grady
  given: Jo
da: '2023-09-28'
doi: 10.1108/ER-03-2016-0059
eissn: 1758-7069
files: []
issn: 0142-5455
journal: EMPLOYEE RELATIONS
keywords: 'Regulation; Inequality; Workfare; National minimum wage; New living

  wage; Zero hour contracts'
keywords-plus: 'DISCONNECTED CAPITALISM; INCOME INEQUALITY; FINANCIALIZATION;

  COMMODIFICATION; NEOLIBERALISM; WELFARE; LABOR; UK'
language: English
number: 3, SI
number-of-cited-references: '108'
pages: 274-290
papis_id: 3f714bef930754239f09b17350a8e666
ref: Grady2017stateemployment
times-cited: '10'
title: 'The state, employment, and regulation: making work not pay'
type: Article
unique-id: WOS:000401015400003
usage-count-last-180-days: '0'
usage-count-since-2013: '31'
volume: '39'
web-of-science-categories: Industrial Relations \& Labor; Management
year: '2017'