Individual labor disputes and «economic analysis of law» in their resolution: light and shadows

The article aims to assess the applicability of «economic analysis of law» in resolving individual labor disputes. The study is based on the classic teaching of the American jurist and judge R.A. Posner. His name is associated with the identification of the specified methodological approach to resolving this type of dispute. Research methods: general scientific (dialectical, historical, analysis and synthesis, etc.) and private law methods (formal-logical, comparative legal, etc.). Results of the study: «economic analysis of law» of individual labor disputes represents a complex amalgam, on the one hand, of quite sound provisions and constructive premises, the main one of which is the need to take into account the economic component of labor relations. However, this analysis is applicable in a very limited list of individual labor disputes, primarily related to wages and compensation for harm, but subject to a significant array of public restrictions. On the other hand, the approach to individual labor disputes from the standpoint of economic analysis of law gives rise to very negative consequences. It is concluded that the institutional (integrated) approach is more effective compared to «economic analysis» in relation to individual labor disputes.