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| THE LABOUR MARKET POLICY IN BULGARIA (1990 - 1993)
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CONCLUSION
It could be argued that the first LMP steps were taken in parallel
with the establishment of the labour market and that they were very
successful. By success we mean the establishment of an
institutional labour market system and the formulation and
implementation of basic policy measures.
The system, however, is unprepared to face up to the challenges of
the structural reform in the economy and the resulting mass lay
offs. The reason is in the very process as a restructuring
privatization and restitution which do not carry the rationale, nor
the accompanying measures aiming for an adequate labour force
response to change.
The extent and depth of the crisis, as well as its specificity,
leave few room for a successful LMP, the evidence being the failure
of traditional LMP components (almost of which have already been
introduced in this country) to curb or even cushion the
consequences of a run-away increase in demand and a dramatic
decrease of labour supply.
Evidently, the transition period requires new and innovative
strategies and LMP techniques. The question, however, is who will
develop those, given that the very theory and labour policy are
dominated by two rationales, equally inadequate to the current
labour market situation: of "laissez faire" and "laissez passer",
as well as of "full employment".
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