The Labour Market: A Lawyer's View of Economic Arguments

Abstract:     
Orthodox lawyers and economists are divided over the rationale for and the value of labour law. Here, a labour lawyer presents his thoughts on the conception and role of labour law found in the theories and economic models concerning the labour market, the criticisms arising from the "insider-outsider" problem, and the asymmetric information available to employers and workers. Though defending the need for labour law and for the existence of trade unions, he concludes that a new balance needs to be struck between workers' protection in the employment relationship and in the labour market in general.

JEL Classification: J59

Accepted Paper Series