Monopsony

From: Patrick Kristiansen
Sent: Wednesday, January 15, 2020 11:15 AM
To: Walter Block <wblock@loyno.edu>
Subject: Monopsony

Dear Prof. Block

Have you written on monopsony? I see there are some of your lectures on mises.org, where you touch on the subject. Perhaps you can link me to some articles of yours.

The reason I’m asking:

https://www.npr.org/sections/money/2019/06/18/733510647/apples-buying-power-and-the-woman-who-named-it

Thanks!

-Patrick

From: Walter Block <wblock@loyno.edu>
Sent: Wednesday, January 15, 2020 4:13 PM
To: ‘Patrick Kristiansen’
Cc: William Barnett

Subject: RE: Monopsony

Dear Patrick:

This is an important issue, since some “economists” claim that there are monopsonistic elements in the labor market, and this justifies the minimum wage law, and, violates the expected result: unemployment of unskilled workers. In my view, the entire concept of monopsony, unless the government is involved, is illicit.

Here you go:

Block, Walter E. and William Barnett. 2009. “Monopsony Theory.” American Review of Political Economy June/December, Vol. 7(1/2), pp. 67-109; https://sites.bemidjistate.edu/arpejournal/wp-content/uploads/sites/2/2015/12/v7n1-2-block-barnett.pdfhttp://www.arpejournal.com/

Barnett, William II, Walter E. Block and Michael Saliba. 2005. “Perfect Competition: A Case of ‘Market-Failure,’” Corporate Ownership & Control. Vol. 2, No. 4, summer, p. 70-75; http://www.academia.edu/1355598/Perfect_Competition_A_Case_of_Market-Failure

Barnett, William II, Walter E. Block and Michael Saliba. 2007. “Predatory pricing.” Corporate Ownership & Control, Vol. 4, No. 4, Continued – 3, Summer; pp. 401-406; http://virtusinterpress.org/additional_files/journ_coc/issues/COC_(Volume_4_Issue_4_Summer_2007_Continued3).pdf 9 (pp. 397-…)

The first one is exactly on point. The others might be of help

Best regards,

Walter

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1:48 am on January 30, 2020