DOI: DOI: https://doi.org/10.36887/2415-8453-2020-1-1
JEL classification: J22
Structural shifts in the labor market are due to the transformation of social and economic relations in today’s globalized world.
The purpose of the study is to substantiate the conceptual and methodological foundations of the economic thought development on the evolution of scientific approaches (scientific schools) to theoretical concepts of research and justification of the labor market.
The conceptual provisions of the study of the labor market within the classical school are considered: free competition, the dependence of wages and labor supply, and the level of wages. The peculiarities of the labor market understanding as a market of goods of a special kind – “labor” within the framework of Marxist theory are determined. The basic postulates of neoclassical opinion on labor market research are considered, which implies free competition and non-interference by the state in regulation. Key provisions of Keynesian labor market theory are presented regarding the need for systematic state intervention in the economic environment. The neo-Keynesian theory of labor market regulation has been considered: models with stable prices and wages; approaches to the analysis of the labor market (the theory of «wage efficiency», the theory of «outsider-insiders», the theory of «employment as an investment decision»). The concept content of the natural level of unemployment is revealed in the modern conservative trend in economic theory. The general position of the monetarists on the labor market is generalized in favor of monetary influence instruments on the economy, including unemployment. Institutionalists’ perceptions of the labor market are considered in analyzing professional and sectoral gaps in the structure of the labor force and in wages. The key provisions of the contract employment theory are given. The characteristic features of the flexible market concept are presented, which provides the deregulation of the labor market. A number of definitions of leading scientists on the content of the labor market have been generalized and the own definition has been provided – as a system of public relations to the purchase and sale of labor, as a sphere of labor demand and supply, as a mechanism for price matching and working conditions between employers and employees.
Keywords: labor market, employment, economic activity of the population, labor force, labor resources, regulation.
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The article was received 15.11.2019