Labor Exchange Research Articles

ТЕНДЕНЦИИ РАЗВИТИЯ ЭКОНОМИЧЕСКИХ ОТНОШЕНИЙ ИЗРАИЛЯ НА БЛИЖНЕМ ВОСТОКЕ

The lack of Russian-language research on the features of the economic development of Israel as an OECD member state underlines the urgent need to identify new trends in the Israeli economy. Not taking into account the existing variety of humanitarian studies, and especially the concentration of studies on the political history of Israel and its modern component, we can recognize a clear lack of work that would cover Israeli economy. Current trends in Israeli trade relations, which have begun to make the mselves clear, require both consideration of effective trade and economic interaction between Israel and Palestine, and identification of the peculiarities of hidden regional trade and economic ties. Israel and Palestine are in close cooperation on the exchange of labor and goods, despite the lack of a political settlement. For Palestine, Israel is a major trading partner, and Palestine plays a key security role for Israel. The second important aspect in covering new trends in the Israeli economy may be the need to study the nascent format of cooperation between Israel and the Middle East. The article explores the specifics of economic relations between Israel and the countries of the Middle East, reveals the growing role of economic relations between Israel and the countries of the region.

Decolonisation and the Pacific: Indigenous Globalisation and the Ends of Empire by Tracey Banivanua Mar

Reviewed by: Decolonisation and the Pacific: Indigenous Globalisation and the Ends of Empire by Tracey Banivanua Mar Trish Tupou Decolonisation and the Pacific: Indigenous Globalisation and the Ends of Empire, by Tracey Banivanua Mar. Cambridge: Cambridge University Press, 2016. isbn cloth 978-1-1070-3759-5; paper 978-1-1087-0578-3; e-book 978-1-3166-8506-8; xi + 280 pages, bibliography, index. Cloth, us$105; paper, us$29.99; e-book, us$24.00. Tracey Banivanua Mar’s Decolonisation and the Pacific offers an in-depth look at the interconnections of Oceanian people that transcend nation-states of the Pacific. Centered on the movements of people and communities who worked to decolonize the Pacific during the nineteenth and twentieth centuries and beyond, Mar pushes the boundaries on decolonization [End Page 580] and postcolonial scholarship by reminding us that personal experiences can also be intimately political. Methodologically, Mar’s use of the ocean as a connecting tool of inquiry pays homage to Oceanian scholars Epeli Hau‘ofa and Albert Wendt in extending their academic genealogy of an Oceania-centered lens. The stretch and fluidity of the ocean perfectly relates to Mar’s contentions of decolonization as process—as something pliable that transcends nation-state boundaries and engages in mobilities and connectivity. Mar traces concepts of decolonization through individuals’ stories—prefaced by the story of Mar’s great-aunt Babu Taka—as a way to demarcate the influences of empire and decolonization during lifetimes. This emphasis on people and community continues throughout the book, especially at the beginning of each chapter, and showcases one of Mar’s main contributions: In order to understand the workings of Oceania, one must recognize that interconnected people and places in the Pacific carried (and continue to carry) these shifting tides of social movements both externally and internally, irrespective of colonial borders. Not only does this call for the rereading of decolonization discourse, it also aligns with other re-representations of Oceania, such as reading spaces outside of hegemonic boundaries. As such, Mar also uses deep time to trace decolonization through a broader timescale than is usually explored in decolonial texts. The first half of Decolonisation and the Pacific follows connections through the various Oceanian diasporas and mobilities of peoples displaced by missions, labor, and other colonial institutions that cleared away or disrupted long-standing settlements of indigenous communities. Through chapters one, two, and three, Mar cements her argument that the remaking of Pacific borders through the spread of peoples was destructive but also integral for the “cross-fertilisation of ideas and the articulation of resistant politics, cultures and languages” among Pacific peoples (17). In a sense, “empires and decolonisation were co-produced”(18). Chapter one largely looks at the development of cross-Oceanic connections, especially through changes in language, as a consequence of the vast movement of Pacific peoples in the 1800s. This chapter highlights the sweeping mobility of the Pacific, outlining the growth in the trans-Pacific trade that saw indigenous Pacific peoples moving around the globe at the intersection of settler colonialism and labor exchange. As an example, Mar traces indentured laborers from Tonga to Uvea, through the Western Pacific, and as far as Pohnpei (33). Such an examination of the complex histories of indentured laborers that went to Australia, many dying while working under horrendous conditions, calls us to reflect on the current movement of labor from Islands in the Pacific to Australia and New Zealand under controversial programs such as the Recognised Seasonal Employer scheme. As Mar mentions, the out-flux of bodies from the Islands had “implications for agriculture, subsistence, genealogies, [and] cultural transmission” (36). The fact that these patterns of labor mobility from the nineteenth century are somewhat continued today allows us to question the [End Page 581] continued economic dependency on colonial powers with more breadth. As Mar posits, the trading of people “ensured that the lives and futures of Indigenous peoples across oceanic divides and borders were increasingly entangled and entwined, and the appropriation of land and labour were interdependent processes” (38). While acknowledging that in reality working overseas temporarily can sometimes be the only way to support families back home, we should still consider how...

Оценка потенциала агломерационных процессов в территориальных социально-экономических системах (на примере Иркутской городской агломерации)

The article provides an analysis of the agglomeration processes within a large territorial socio- economic system of Eastern Siberia - the Irkutsk urban agglomeration (IGA). Agglomeration processes are considered to be prerequisites of agglomeration effects, which are usually divided into two types: localisation and urbanisation effects. The evaluation of agglomeration effects is based on a regression analysis, where the effect is interpreted as a dependent variable, while agglomeration processes are regarded as the parameters that affect the intensity of agglomeration. They can be measured using a set of indices. The parameters of localisation have been estimated using the Moran index (territorial clusters have been identified), and the parameters of urbanisation effects - using the Shannon index.An assessment of the diversity of economic activity was carried out both for the territorial units composing the IGA, and for its separate sectors of the economy. Since different territorial units have a different composition of industries, the assessment of industry diversity was carried out using the normalised analogue of the Shannon index - the Pielu index. Based on the calculations, it can be concluded that the strongest agglomeration associated with localisation effects will be achieved in the urbanised IGA zone. However, the peripheral zone is to participate in the inter-district exchange of labour and other economic resources. Thus, agglomerationeffectsbecomethenecessaryprerequisitesforthefurtherintensificationofeconomic ties as a result of an increase in the number of new jobs and the diversification of the sectoral structure.

The Effect of Job Referrals on Labor Market Outcomes in Brazil

This paper is the first to use program administrative data from Brazil’s National Employment System (SINE) to assess the impact of SINE job interview referrals on labor market outcomes. Data for a five-year period (2012–2016) are used to evaluate the impact of SINE on employment probability, wage rates, time until reemployment, and job tenure. Difference-in-differences estimates suggest that a SINE job interview referral increases the probability of finding a job within three months of the referral and reduces the number of months to find reemployment, the average job tenure of the next job, and the reemployment wage. Subgroup analysis suggests that compared to more educated workers, SINE is more effective in helping less educated workers by increasing their probability of finding a job and reducing time until reemployment. Finally, the evidence suggests that the online labor exchange is less effective than in-person services provided at SINE offices.

The dynamics of inequalities and unequal exchange of labor in intertemporal linear economies

Introducing a concept of fairness of economic allocations, namely exploitation as the unequal exchange of labor (henceforth, UE exploitation) by generalizing Roemer’s (1981, 1982a) seminal models, this paper aims to answer the following two questions in the context of an intertemporal economy with linear technology: How is income and wealth inequality related (or unrelated) to the existence and persistence of UE exploitation? What are the mechanisms driving the persistent existence of UE exploitation in growing economies? Agents are UE exploited (resp. exploiters) if the amount of labor that they contribute to the economy is bigger (resp. smaller) than the amount of labor ‘received’ by them via their income. It is proved, first, that UE exploitation is monotonically correlated to functional income inequality. Second, it is shown that, unless agents discount the future, asset inequalities are necessary, but not sufficient for the persistence of UE exploitation, and capital accumulation leading to the disappearance of UE exploitation cannot be ruled out in equilibrium. Third, it is shown that, regardless of whether agents discount the future, labor-saving technical progress may yield sustained growth with persistent UE exploitation by keeping labor abundant relative to capital, which restrains wages from rising. Unlike in models with differentiable production functions, this mechanism does not rely on changes in the marginal productivity of inputs and it is entirely driven by the interaction between innovation and labor markets.

Effects of Reciprocity Induction on Partial-Altruistic and Unequal-Asymmetric Labor Exchange Interactions

An experiment evaluated the effects of reciprocal behavior of a confederate on the behavior of a participant under concurrent individual and shared contingencies. The experimental situation consisted of solving a puzzle on two synchronized computer screens. Sixteen female and male university students were assigned to the same number of dyads, in which the other member was a confederate. They were divided into four groups of four dyads each. Groups 1 and 3 were exposed to an ascending percentage of reciprocal behavior by the confederate (0, 50, and 100%) whereas groups 2 and 4 were exposed to a descending percentage (100, 50, and 0%). All groups were exposed to two shared contingency situations: partial altruism, in which no points or tokens were provided, and unequal, and asymmetric labor exchange, in which different amounts of valuables were exchanged for earned points. Groups 1 and 2 were first exposed to the partial altruism situation whereas groups 3 and 4 were first exposed to the labor exchange situation. Results show that participants in all groups matched the reciprocal behavior of confederates, resulting in partial altruism during percentages larger than 0 in both conditions, with and without points and earnings. These results confirm previous findings suggesting that reciprocity is a function of the behavior of at least one of the members of the dyad. Results are also discussed in relation to the functional relevance for the occurrence of cultural and economic interactions.

THE THEORY OF EXPLOITATION AS THE UNEQUAL EXCHANGE OF LABOUR

Abstract:This paper explores the foundations of the theory of exploitation as the unequal exchange of labour (UEL). The key intuitions behind all of the main approaches to UEL exploitation are explicitly analysed as a series of formal axioms in a general economic environment. Then, a single domain condition calledLabour Exploitationis formulated, which summarizes the foundations of UEL exploitation theory, defines the basic domain of all UEL exploitation forms, and identifies the formal and theoretical framework for the analysis of the appropriate definition of exploitation.

Social Impact of Farmland Abandonment and Its Eco-Environmental Vulnerability in the High Mountain Region of Nepal: A Case Study of Dordi River Basin

The abandonment of farmland is a phenomenon that shows the deterioration of the physical and social landscape. It is widespread across the mountainous region of Nepal and is expected to further increase in the future. The aim of this study is to: (i) determine the driving factors of farmland abandonment; (ii) discuss its impact on social systems in terms of social networks, relations, practices; and (iii) assess the eco-environmental vulnerability of abandoned farmlands in the high mountain region of Nepal. The authors apply household surveys, focus group discussions and in-depth key informant interviews to visualize the social landscape and changes therein, thus establishing an existing history of mountain societies, social systems and management practices. Moreover, Google Earth Images and Low Height Remote Sensing Survey (UAV) are also used to observe geomorphic processes and the modification of the abandoned farmland and its characteristics. The Multivariate Linear Regression (MLR) model is run using SPSS revealing eight variables; mountain road accessibility, farm distance from residence, household size, household head age, landowner’s living place, ownership of farmland, salary and business and remittances are major factors determining the process of farmland abandonment in the region. Farmers’ social practices such as (i) an indigenous labor exchange system “Parma,” (ii) a traditionally managed irrigation system, (iii) a drinking water supply system, (iv) social practices, rituals, festive events, (v) an indigenous governance system, practices and some existing infrastructures (schools, banks, health, post, temples and more) are going to disappear as a process of abandonment. The decline in individual as well as social participation in land management practices have increased exotic vegetation and soil loss processes, modifying the physical characteristics of abandoned farmlands. Thus, this knowledge is vital for understanding appropriate social processes, natural resources and environmental management.

The cooperative economy of food: Implications for human life history and physiology

The human diet has undergone substantial modifications since the emergence of modern humans and varies considerably in today's traditional societies. Despite these changes and cross-cultural differences, the human diet can be characterized by several common elements. These include diverse, high quality foods, technological complexity to acquire and process food, and the establishment of home bases for storage, processing and consumption. Together these aspects of the human diet challenge any one individual to independently meet all of his or her daily caloric needs. Humans solve this challenge through food sharing, labor exchange and the division of labor. The cooperative nature of the human diet is associated with many downstream effects on our life history and physiology. This paper overviews the constellation of traits that likely led to a cooperative economy of food, and draws on ethnographic examples to illustrate its effects on human life history and physiology. Two detailed examples using body composition, time allocation and food acquisition data show how cooperation among Savanna Pumé hunter-gatherers affects activity levels, sexual dimorphism in body fat, maturational pace and age at first birth.

Do You Have Time for a Quick Chat? Direct Messaging System Usage and Hiring Outcomes in Online Labor Markets

This study examines the role of text-based direct messaging systems in online labor markets, which provide a communication channel between workers and employers, adding a personal touch to the exchange of online labor. We propose the effect of workers’ use of the direct messaging system on employers’ hiring decisions and conceptualize the information role of direct messaging. To empirically evaluate the information role of the direct messaging system, we leverage data on the direct messaging activities between workers and employers across more than 470,000 job applications on a leading online labor market. We report evidence that direct messaging with a prospective employer increases a worker’s probability of being hired by 8.9%. However, the degree to which workers benefit from direct messaging is heterogeneous, and the effect amplifies for workers approaching employers from a position of disadvantage (lacking tenure or fit with the job) and attenuates as more workers attempt to message the same prospective employer. The effects also depend on message content. In particular, we find that the benefits of direct messaging for workers depend a great deal on the politeness of the workers, and this ‘politeness effect’ depends on several contextual factors. The beneficial effects are amplified for lower-status workers (i.e., workers lacking tenure and job fit), and workers who share a common language with the employer. At the same time, the beneficial effects weaken in the presence of typographical errors. These findings provide important insights into when and what to message to achieve favorable hiring outcomes in online employment settings.

Collective Labor-intensive Farming toward Sustainable Farm Livelihoods: The Experience of Labor Exchange Practice in Mawathawewa, Sri Lanka

Collective Labor-intensive Farming toward Sustainable Farm Livelihoods: The Experience of Labor Exchange Practice in Mawathawewa, Sri Lanka

Examining South Korea s Elementary Physical Education Performance Assessment Using Assessment Literacy Perspectives

This study examines the issues pertaining to South Korea’s elementary physical education (PE) performance assessment, using an assessment literacy (Hay & Penney, 2013) perspective to propose future directions. Eight elementary teachers currently teaching PE were selected as participants. Data were collected through semi-structured in-depth interviews and on-site data analysis, and analyzed based on an inductive categorical analysis, the results of which were elicited from the four concept factors of assessment literacy. Four themes presented themselves during the research: first, teachers were unclear about the concept of assessment, making it difficult for them to carry out assessments effectively; second, assessments were conducted in a labor exchange and recycling manner, reducing their effectiveness; third, there was a lack of feedback; and fourth, there were teachers’ critical thinking without pedagogy. These are the main problems in assessing PE in elementary schools. As for future directions, this study proposes the need for diversifying current teachers’ education geared towards enhancing their assessment literacy capability, for providing on-site guidance to build students’ assessment literacy, and for evaluating the assessment procedure.

Smallholder farmers’ participation in climate change adaptation programmes: understanding preferences in Nepal

ABSTRACTGlobally, adaptation policies and programmes are being formulated to address climate change issues. However, in the agricultural sector, and particularly in least developed countries (LDCs), concerns remain as to whether these policies and programmes are consistent with farmers’ preferences. This study empirically investigates Nepalese farmers’ willingness to support the implementation of adaptation programmes. To this end, we first developed suggested adaptation programmes in accordance with the adaptation measures identified by LDCs in their National Adaptation Programmes of Actions. We then employed a choice experiment framework to estimate farmers’ willingness to pay (WTP) for adaptation benefits. The findings indicate that the substantial benefits of the adaptation programmes for farmers result in a sizeable WTP to participate, which would appear to justify the programmes’ widespread implementation.Key policy insightsFarmers are willing to participate in, and contribute to, the suggested adaptation programmes in the form of increased access to climate adaptive crop species and varieties, improved soil quality and irrigation and the provision of training in climate adaptive farming.Key socio-economic factors influence farmers’ support of adaptation programmes. Older farmers, those households closer to government extension services, larger land holders, those involved in household labour exchange, farmers located in drought and flood-prone regions and those who perceive that the climate has changed are more likely to participate.The more farmers are aware of climate change impacts, the greater their preference for adaptation programmes. Increasing farmer awareness prior to implementation of such programmes is therefore an obvious means of further raising participation rates.

Blood Is Thicker than Water

The research took place in two time periods thirty years apart (in 1980–1981 under socialism and in 2009–2010 under the emerging market economy, following the regime change of 1989). It documents the shift from choosing godparents from a combination of relatives and nonrelatives to practically always relatives. After a brief literature review, the article discusses the place of godparenthood in the village in the 1980s, including how godparents were “recruited” and the introduction of the socialist, civil “name-giving ceremony.” Compadres acquired in the civil ceremony were treated similarly to those acquired through baptism, and the “name-giving” system was integrated into the overall system of godparenthood in terms of terminology, obligations, honors, and cooperation in rituals and labor exchange. The latter was an important part of village life: relatives, neighbors, and compadres participated roughly equally. It also contributed to the synergies developed between the production cooperative and peasant household production under socialism. Following 1989, the cooperative closed and labor opportunities declined; labor exchange was replaced by market relations in all aspects of life. The results of a questionnaire on choosing godparents show that the switch from unrelated friends to relatives as godparents was long in the making, slowed somewhat by the contrary trend under the oppressive political circumstances of the early 1950s, indicating that the villagers tried to cement their networks by choosing unrelated compadres. By now, as more and more people are leaving the village, they choose relatives exclusively as if to try to strengthen family ties in the face of modernization and globalization.

Labor Potential of the Rural Territories - State and Development

Introduction Issues of development of LP of the employees in the agrarian sector acquire a special urgency due to the need to develop a new concept of reproductive labor resource that would meet the socio-economic and geopolitical interests of Russia. The article presents the analysis of the LP evaluation methodologies and development of the auctorial computation methodology of the LP evaluation of the rural population. The term "rural" designates the territorial belonging; however, rural-type settlements do not always coincide with the administrative boundaries or the location of a certain economic sector, which limits some approaches to the clustering of regions. In this respect, the term "rural territories" is used more often. In the Conception of Sustainable Development of the RF for the period until 2020 this term is defined as follows: the territories out of cities' borders that include territories of rural-type settlements and inter-settlement territories (The Conception of Sustainable Development of Rural Territories of the Russian Federation for the period up to 2020, 2010). Rural territories experts, in particular, recognize a special (specific) type of territories that includes merely rural (agricultural) as well as individual urban settlements (small towns of rural type, towns, etc.) being immediately interconnected with them, where, firstly, employment in the agri-food complex system is prevalent in the production industries, and, secondly, stable, active pendulum labor movements (labor exchange) in the city-village system are observed (prevail) (Novikov, Zhubarkin and Chalyi, 2013: 140; Breckova, 2016; Thalassinos et al., 2012; Havhcek et al., 2013; Liapis et al., 2013; Frank et al., 2016). In the modern context the problem of searching for, development and realization of internal reserves of the country, production and LP of people (population) becomes urgent. In view of this, it is necessary, first of all, to update the components and the methods of LP evaluation taking into account, firstly, the development of economic researches methodology as a whole, and, then, the modern global and national trends in the development of the socio-economic system at large. The raised problem suggests addressing to one of the fundamental categories of the labor economics--"labor potential" category as applied to the level of the region. The LP of the region is most commonly understood as a complex of properties, capabilities, and the regional labor force for exercising labor activity under the conditions of attained level of economics development. The LP of a region shows the development level of the region labor force capacity to a certain work (Alieva and Mirzabalaeva, 2012: 18; Bashmakov et al., 2015). The LP of a region includes characteristics of the able-bodied part of its population that is capable for the productive labor in a logical connection with the educative and professional structure as well as its capability of the maximum production of goods and services, which will be in demand under the given conditions of the market environment. Therefore, the LP is a culminating form of the human resources capabilities implementation in the region (Zinovyev and Shchetinin, 2014; Hani El-Chaarani, 2014). Analysis of the researchers' viewpoints with respect to the essence and content-related characteristics of the LP allows to note a certain synergetic nature of this phenomenon that suggests not only a sum of the qualitative and quantitative parameters of human resources of a territory considered in the potential aspect, but also evolution of principally new features of the whole socio-economic system. The differentiation of the socio-economic development of regions for a variety of criteria dictates the need to clarify the categories "employment potential of the rural population", "quality of LP of the population of rural areas" that have made it possible to reflect the regional specifics. …

Professional Discretion of Civil Servants in Serving the Customers of Public Employment Intermediation Agency: The Case of Lithuanian Labour Exchange

The aim of this article is to analyze and identify to which extent changes in serving and counselling customers in public employment intermediation agency in Lithuania that is in subdivisions of Lithuanian Labour Exchange under the Ministry of Social Security and Labour, are based on strengthening empowerment of civil servants and development of their professional discretion. It also aims to evaluate civil servants’ expectations related to broader factual usage of professional discretion. The aim of the article is realized analyzing academic literature and data of conducted empirical research, which discover practical usage of professional discretion in the best way when implementing the new customer service model.DOI: http://dx.doi.org/10.5755/j01.ppaa.16.3.19340

In Melbourne tonight

In recent decades the ‘music city’ has emerged as an important series (and exchanges) of representations, capital, labour, sounds and commodities. City heritage and histories—particular narratives of music development, genres, venues and personnel—continue to inform contemporary city branding, tourism and industrial strategies. This article explores how both the practices and discourses of the ‘music city’ circulate in terms of specific histories, and how, in turn, they might inform contemporary practices and future intent. Melbourne, the self-proclaimed music and cultural capital of Australia, is examined as a case study in how the past and present circulate. The article also explores the challenges in documenting the emergence and development of popular music in Melbourne from the 1950s to the present as a three-year Australian Research Council Discovery project, Interrogating the Music City: Cultural Economy and Popular Music in Melbourne, funded from 2016 to 2018.

Revisiting the Böhm-Bawerk–Edgeworth Controversy: Early Neoclassical Economists and Labour Exchange

ABSTRACTThis article revisits the controversy between Böhm-Bawerk and Edgeworth. The crux of this debate revolving around value and cost lay in their views on labour exchange. Böhm-Bawerk and Edgeworth did not disagree on the basic principles underlying the causality between labour exchange and value-cost. Böhm-Bawerk stressed a decisive influence of social power relationships on labour time and Edgeworth apparently agreed. Böhm-Bawerk’s and Edgeworth’s observations on actual industrial relations and their theoretical arguments informing the controversy had variances. Such observation–theory discrepancies also appeared in their other work and were shared by other early neoclassical economists. Their efforts, with this contradiction, contributed to the moulding of a principle that de-individuates labour exchange. At the root of this process lay the fact that, despite their subjectivist approach, they failed to comprehend the distinctiveness of capitalistic labour exchange arising from worker subjectivity towards labour performance and employer countermeasures. The Böhm-Bawerk–Edgeworth controversy typically illustrates this crucial moment for the establishment of the neoclassical paradigm.

Cultural multi-level selection and biological market theory explain the coupled dynamics of labor exchange cooperation and social support

Smallholders rely on labor exchange and social support networks; however, little is known about the cooperative dynamics of these interlinked systems. Whereas cultural multi-level selection (CLMS) predicts group membership and changes in the dominant level of selection modulates cooperation, biological market theory (BMT) posits market size fluctuations affect cooperation. We assess these predictions by examining two dimensions of labor exchange, competitive helping and labor reciprocity, and their downstream impacts on social support in a Dominican community between 2007 and 2010. First, we analyze within-community labor organization. Next, we analyze how international regulatory change and the 2008–2009 World Trade Collapse affected local labor organization and its impacts on competitive helping and labor reciprocity. Finally, we show how labor dynamics affected social support. Analyses reveal that (1) village labor initially involved two levels (labor contracting and labor exchange) and the presence of a structured group who maintained higher rates of reciprocal labor relative to non-group members; (2) changes in the international commodities market reduced labor contracting, the size of the labor exchange market, and the dominant level of selection, resulting in less competitive helping, lower rates of reciprocity for group members, and more cliquish social support; and (3) as the global market for bay oil ameliorated, labor organization shifted back to a pre-recession structure, resulting in a larger labor market with more competitive helping and higher rates of reciprocity amongst group members. We highlight the utility of an integrated CMLS and BMT framework for analyzing cooperative dynamics and socio-economic systems sustainability.

Theory of Employment, Wealth and Efficient Labour Market through National Labour Exchange

The paper proposed setting up of a National Labor Exchange along the lines of National Stock Exchange, Bombay Stock Exchange and Commodity Exchanges Worldwide in order to promote efficiency in the labor market, full employment and generating wealth and positive contributions to GDP. The paper also considers that Labor is a valuable Resource and a Wealth of the Nation, having potential to generate more wealth. The paper opposes the concept of Wages or Price of Labor as in classical economics, but supports Ricardo’s theory of Value and Laissez faire through efficient labor market. The paper opposes Keynesian theory outlining Government Intervention to generate Employment though Monetary Policy changes and Fiscal Policy as Keynesian theory is based on his book on The General Theory of Employment, Interest and Money which was a product of Great Depression of 1931-36 not reflecting normal economic and business conditions in the economy when businesses failed and labor laid off in abundance. The paper critically evaluates various theories on Labor. The proposed Model of creating efficient Labor Market through National Labor Exchange will facilitate an automatic way for Full Employment, generating wealth for the Nation, Firm and Labor, easy access to information about the availability of Labor (man hours) and jobs. It would also help save employment costs in a Market Driven Economic System with Asymmetric Information. National Labor Exchange as proposed would also help Rating Certificates, Diplomas, Degrees, skill development and experiences based on Scores and would facilitate transparency in the Efficient Labor Markets. It would automatically adjust the return to labor based on value addition and economic and business conditions avoiding the problems of laying off. Efficient Labor Market would facilitate perfect or nearly perfect mobility of labor and full employment and maximizing wealth through National Labor Exchange.