Working to rule
Subtitle: the damaging economics of UK employment regulation
By: J.R. Shackleton
Publisher: The Institution of Economic Affairs
Published: 2017
Place of publication: London, Great Britain
Language: eng
Number of pages: 262
ISBN-13: 9780255367431
Copyright date: 2017
Subjects: Labor market; Labor policy; Labor economics; Labor laws and legislation; Economic policy; Economic conditions; Economic history
Description: "Employment law has been growing rapidly. This has not exclusively or even mainly come from the European Union. Recent UK governments have added such significant new measures as the National Living Wage, workplace pensions and the Apprenticeship Levy. The costs of such regulation are frequently assumed - by both advocates and opponents - to fall on business profits. This isn't so, except in the very short run. They are instead transferred in part to consumers, but mainly to employees themselves. Mandated benefits - longer holidays or extended maternity leave, mean reduced pay growth and fewer job opportunities. Anti-discrimination laws lead to fewer openings for disadvantaged groups, while employment protection legislation worsens job prospects for the young. Excessive regulation acts as a barrier to entry, shielding incumbents and deterring the foundation of new enterprises. Attempts to restrict new types of employment in the 'gig' economy are counterproductive, serving 'insiders' at the expense of 'outsiders'. This book combines a history of employment laws with analysis of the troublesome effects of various interventions. The author argues for a fundamental rethink. Some basic labour market regulation may still be necessary, but far less than we currently have." --
Notes: Includes bibliographical references.