The Principle of Equal Chances Versus The Concepts of Labor Market

Abstract

The paper characterizes the selected theories of the labor market, starting from the classical theories, through the Keyenesian, neoclassical and neo-Keynesian theories and ending with the concepts that point at the possibility of unemployment in the conditions of equilibrium on the labor market, in the context of the essential principle of the EU economic policy related to equal chances. The principle, in accordance with which no person or social group may be discriminated against, may have positive impact on the efficiency of the market mechanism in the aspect related to employment.