ABSTRACT

Economics encompasses the major areas of microeconomics, which explores how people and firms produce and consume goods and services; it explores mass economic progress and intercountry trade. Labor economics on the other hand, is specifically concerned with the creation, consumption, and transfer of wealth, and the workers satisfaction. While economic methods may be used to study all kinds of issues, from land and other natural resource, to how much people should work, to how to develop human capital through education, labor economics talks about work ethics and provide insights in areas as diverse as how workers should be rewarded and how government should conduct fiscal and monetary policy, and how health care markets work. Over the years in Nigeria, these assertions above have not been met; leaving workers with little or no hope of any economic advantage in most their jobs. The concept 'n'mkpo-n'mkpo-cracy' describes the degree of the frustration in the Nigerian civil service giving the poor salary incentive called 'minimum wage'. This hazard, impacts on work ethics and labor economics in Nigeria, hence this paper uses the hermeneutic method to survey the problem associated to effective work among Nigeria workers, and the departure into seeking menial jobs and its effects on work ethics and labor economics. It concludes that this survival strategy in a new name 'n'mkpo-n'mkpo-cracy', have seriously impacted negatively on both the dignity of work, the worker and the Nigerian's labor economics