monopsonistic

* Real* monopolies pretty much blow away * theoretical* monopsonistic * tendendies* every time

Matthew Yglesias » Economists for an Employee Free Choice Act 2009

A quick JSTOR search didn't turn up any studies of it in the literature, but it seems to me that a symphony orchestra is a classic monopsonistic employer: there's an extremely limited number (often only one) within a given labor market, and the employees — musicians — are liable to put up with an awful lot of crap in order to make any money doing what they love to do.

Archive 2008-05-01 Matthew Guerrieri 2008

In fact, the board — proposing both pay cuts and a reduction in personnel — is attempting to exercise classic monopsonistic power, which usually manifests itself in keeping wages and employment rates lower than an unfettered market would produce.

Bread and Roses Matthew Guerrieri 2008

But given the combination of orchestras 'obvious monopsonistic power with their quasi-civic status, some sort of government intervention — even as simple as mediation — would be entirely appropriate in Columbus-type situations.

Archive 2008-05-01 Matthew Guerrieri 2008

A quick JSTOR search didn't turn up any studies of it in the literature, but it seems to me that a symphony orchestra is a classic monopsonistic employer: there's an extremely limited number (often only one) within a given labor market, and the employees — musicians — are liable to put up with an awful lot of crap in order to make any money doing what they love to do.

Bread and Roses Matthew Guerrieri 2008

The classic example of a monopsonistic labor market is Major League Baseball under the reserve clause; the explosion of player salaries following the introduction of free agency is an indication of how artificially depressed those salaries were under the extreme monopsony that previously prevailed.

Archive 2008-05-01 Matthew Guerrieri 2008

The classic example of a monopsonistic labor market is Major League Baseball under the reserve clause; the explosion of player salaries following the introduction of free agency is an indication of how artificially depressed those salaries were under the extreme monopsony that previously prevailed.

Bread and Roses Matthew Guerrieri 2008

In fact, the board — proposing both pay cuts and a reduction in personnel — is attempting to exercise classic monopsonistic power, which usually manifests itself in keeping wages and employment rates lower than an unfettered market would produce.

Archive 2008-05-01 Matthew Guerrieri 2008

But given the combination of orchestras 'obvious monopsonistic power with their quasi-civic status, some sort of government intervention — even as simple as mediation — would be entirely appropriate in Columbus-type situations.

Bread and Roses Matthew Guerrieri 2008

The solution to this problem, in the case of Canada and many other countries, is monopsonistic consumption, but this works in part because they can piggyback off the US.

Grey-area Medicine and Non-monetary Costs, Arnold Kling | EconLog | Library of Economics and Liberty 2009