Difficult to Square This Reality With the Presumption of Monopsony Power

by Don Boudreaux on September 17, 2015

in Work

Here’s a sign spotted recently, by Cafe patron Adam Evans, in a Wal-Mart in Salt Lake City.  (Click on the photo to enlarge it.)

20150910_123128 As Mr. Evans correctly points out, at least in Salt Lake City employers of low-skilled workers apparently possess none of the monopsony power that is presumed by many economists to exist in such quantities throughout the land that government(s) can be trusted with the power to prevent low-skilled workers from bidding for jobs by offering to work at wages below some legislatively stipulated minimum.


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