Labor law aspect of international economic integration

Abstract

Globalization as an integrated system aimed at the rapid and barrier-free movement of large volumes of goods, services, capital and information between countries leads to the fact that the competitiveness of national goods and services acquires an international dimension. This often leads to a “race to the bottom” in labor law regulation, which reflects the perception of the relationship of labor legislation and unit labor costs in the price of national goods and services. International economic integration exacerbates this problem by linking trade and labor standards. Consideration of the economic basis of labor law (within the framework of “labor law and economics” as a field of knowledge) allows us to look at the standards in the field of labor through the prism of ensuring the growth of the welfare of society.