Abstract
Up to this time, labor economists have made some theories to explain labor market phenomena. However, transformation on labor economics is necessary due to the increasing importance of division of knowledge and some modern events. This paper deduces labor economic theories following methods in Austrian tradition, praxeology, and then illustrates some evidences. I find that labor entrepreneurship takes a big role in those cases. The stock bonus in Taiwan is considered here as an alternative way to compensate the return to entrepreneurship of labor. Later I extend the study on two additional issues: labour relations, and residual claiming between ownership and control. It is suggested that Austrian economic theory can be well-fitted into explanation on labor market phenomena.