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Labor Monopsony and the Limits of the Law

Author

Listed:
  • Suresh Naidu
  • Eric A. Posner

Abstract

Recent literature has suggested that antitrust regulation is an appropriate response to labor market monopsony. This article qualifies the primacy of antitrust by arguing that a significant degree of labor market power is “frictional,” that is, without artificial barriers to entry or excessive concentration of employment. If monopsony is pervasive under conditions of laissez-faire, antitrust is likely to play only a partial role in remedying it, and other legal and policy instruments to intervene in the labor market will be required.

Suggested Citation

  • Suresh Naidu & Eric A. Posner, 2022. "Labor Monopsony and the Limits of the Law," Journal of Human Resources, University of Wisconsin Press, vol. 57(S), pages 284-323.
    • Handle: RePEc:uwp:jhriss:v:57:y:2022:i:s:p:s284-s323
    Note: DOI: 10.3368/jhr.monopsony.0219-10030R1
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    File URL: http://jhr.uwpress.org/cgi/reprint/57/S/S284
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    Citations

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    Cited by:

    1. Teresa Ghilarducci & Siavash Radpour & Jessica Forden, 2023. "No Rest for The Weary: Measuring the Changing Distribution of Wealth in The US," SCEPA working paper series. 2023-02, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.
    2. Rodriguez, Francisco Javier Valverde, 2023. "The effects of Minimum Wage in the presence of Monopsonic power in Latin America: A study case for Mexico," SocArXiv 5x7uk, Center for Open Science.
    3. Brianna L. Alderman & Roger D. Blair & Perihan Ö. Saygin, 2023. "Monopsony, wage discrimination, and public policy," Economic Inquiry, Western Economic Association International, vol. 61(3), pages 572-583, July.
    4. Cazzuffi, Chiara & Pereira-López, Mariana & Rosales, Irving & Soloaga, Isidro, 2023. "Monopsony Power and Labor Income Inequality in Mexico," IDB Publications (Working Papers) 13044, Inter-American Development Bank.

    More about this item

    JEL classification:

    • J42 - Labor and Demographic Economics - - Particular Labor Markets - - - Monopsony; Segmented Labor Markets
    • L4 - Industrial Organization - - Antitrust Issues and Policies
    • K21 - Law and Economics - - Regulation and Business Law - - - Antitrust Law
    • K31 - Law and Economics - - Other Substantive Areas of Law - - - Labor Law

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