Labour Law and Inclusive Development

Simon Deakin

Working Papers from Centre for Business Research, University of Cambridge

Abstract: This paper, based on the V.V. Giri Memorial Lecture for 2013, argues that labour law should be seen as a developmental institution, capable of promoting both equality and efficiency, and hence inclusive development. Labour law rules, precisely because they redress the inequality of bargaining power inherent in the employment relationship, may promote economic efficiency, since they counteract the effects of contractual incompleteness, while mitigating labour market risks. The World Bank view that laws designed to help workers often harm them is neither theoretically well informed nor empirically supported. There is a need for new thinking to escape the intellectual rigidities currently afflicting labour law.

Keywords: Labour law; development; equality (search for similar items in EconPapers)
JEL-codes: J88 K31 (search for similar items in EconPapers)
Date: 2014-03
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Citations: View citations in EconPapers (10)

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