The labour market: A lawyer's view of economic arguments

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 con ception and role of labour law found in the theories and economic models co ncerning the labour market, the criticisms arising from the "insider-outsid er" problem, and the asymmetric information available to employers and work ers. Though defending the need for labour law and for the existence of trad e unions, he concludes that a new balance needs to be struck between worker s' protection in the employment relationship and in the labour market in ge neral.