Labor law and “economic imperialism”: the benefits and limitations of an interdisciplinary approach

Abstract

The article examines the possibility of applying approaches developed within the framework of “economic imperialism” to solving theoretical and practical problems of labor law. The author proceeded from the fact that “economic imperialism” is a direction of scientific research associated with attempts to extend the laws and other basic provisions of neoclassical economic theory and partly neo-institutionalism to spheres of social relations not related to economics (i.e., an economic approach to all social issues without exception, including to law). It is interdisciplinary, but rather one-sided. Its key concepts and methodological foundations are identified, as well as their applicability to phenomena related to labor law. This concerns the maximization of rational behavior in a broad sense, the stability of preferences for the fundamental objects of choice, markets as coordinators of activity in all areas, as well as the model of “economic homo.” The article shows that “economic imperialism” is based on extreme simplifications, is not realistic and has a one-sided ideological basis. It is concluded that classical “economic imperialism” is losing relevance and gives very little to labor law. In a more moderate form, through "law and economics", it is of significant interest. This concerns the study of the stimulating role of wages, the study of certain types of unemployment, the effective distribution of working time and rest time, labor regulation, labor protection, etc. However, it is necessary to keep in mind the social (protective) function of labor law, the most important significance of which in any more or less a less civilized state is beyond doubt.