There are various initiatives to modernize labor laws to meet challenges of the globalization of the economy. Our approaches to and expectations from labor laws are changing drastically. Starting with 1980s, economic problems have become the root of the revision of labor laws. How labor laws can evolve to support national economic and employment objectives is the main common problem. In too many studies on labor law, the language of economics and statistics is “obscuring” the language of legal institutions. There is more than ever the need of involvement of economists in the introduction of labor reforms and revision of labor laws. Labor laws have to support and enhance employment creation and development of “just-in-time management.” To this end, the classical model of labor legislation designed to protect the weaker party is transforming. There is now the emergence of new debates such as employment creation through flexibility, corporate governance, corporate social responsibility, and alternative dispute resolution.