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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. Javier D. Donna & Pedro Pereira, 2024. "Structural Presumptions for Non-horizontal Mergers in the 2023 Merger Guidelines: A Primer and a Path Forward," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 65(1), pages 303-345, August.
    3. Francesco Devicienti & Elena Grinza & Alessandro Manello & Davide Vannoni, 2025. "Employer cooperation, productivity and wages: new evidence from inter‐firm formal network agreements," Economica, London School of Economics and Political Science, vol. 92(365), pages 1-41, January.
    4. Holt, Andrew Chase, 2024. "Monopsony power in the United States: Evidence from the great depression," Explorations in Economic History, Elsevier, vol. 92(C).
    5. 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.
    6. 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.
    7. 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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