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The neoliberal policy of deregulation has failed to bring about significant improvements in the efficiency of the labor market in Britain. Cuts in social protection and legal constraints upon collective bargaining have contributed to growing inequalities in income and security of employment, without leading to greater flexibility of labor supply. Casualized employment does not present a viable route back to full-time work for the unemployed. With the failure of deregulation it is likely to shift to alternative means of reconciling the goals of justice and efficiency, such as minimum income and employment rights programs. Copyright 1991 by Oxford University Press.
Deakin et al. (Sat,) studied this question.