Comparative Labor and Employment Law in Developed Market Economies: Fostering Market Efficiencies or Repairing Market Failures?
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Description
Labor and employment law plays a central role in modern developed economies. In this chapter, we start by reviewing the economic approach to labor markets and their failures and the different theories explaining the role and importance of labor law. We then turn our attention to the legal origins theory by which economists claim to explain differences in labor and employment law across the world. Our critical review of the legal origins theory leads us to a discussion of specific aspects of labor law in common law and in civil law jurisdictions from the perspective of the ‘varieties of capitalism’ approach. We conclude by suggesting that the latter could provide a more solid explanation of distinct labor law approaches than the legal origins theory.
Source Publication
Comparative Labor Law
Source Editors/Authors
Matthew W. Finkin, Guy Mundlak
Publication Date
2015
Recommended Citation
Bonfanti, Silvia; Estlund, Cynthia; and Garoupa, Nuno, "Comparative Labor and Employment Law in Developed Market Economies: Fostering Market Efficiencies or Repairing Market Failures?" (2015). Faculty Chapters. 431.
https://gretchen.law.nyu.edu/fac-chapt/431
