POST-SOCIALIST LABOR FORCE AS A COMMON-POOL RESOURCE

The article is devoted to the challenges of the labour market in the post-socialist period. It discusses the issues related to the physical properties of the post-socialists labour force and the social and legal framework in which it operates. Labor traditionally is considered to be a private good in the economic literature, possessing the properties of high excludability and rivalry. We argue that in the post-socialist period, labour looks more like a common pool resource system rather than a private good. In the absence of appropriate legal and social structures, such a system is likely to operate under the conditions of open access. In the long run, this could lead to a depletion of this resource. We argue that looking at labour in the frame of common pool resource, first we can justify better the use of the traditional instruments for intervention at the labour market, and second, this could help to develop a more efficient system for preserving and development of the labour force in the long run.