Tag Archives: monopsony

“Chaebols”, large business groups controlled by founder families, are usually considered a crucial ingredient of South Korea’s economic miracle. But after a process of consolidation, big chaebol firms such as Hyundai established exclusive supply chains with suppliers of parts and components and began to engage in price squeezing and intellectual property extortion in bargaining with its suppliers.... ProMarket — The blog of the Stigler Center at the University of Chicago Booth School of...

The two countries have set up a joint working group that would identify subjects of cooperation in the energy sector, including ways to rein in global oil prices. The group, set up a month ago, will be co-chaired by a joint secretary in the oil ministry and his Chinese counterpart.China and India, second- and third-largest oil consumers, respectively, have been meaning to form a joint front for more than a decade to assert their weight in the oil market, dominated by a producers’ cartel,...

[unable to retrieve full-text content]How Monopsonies Work, Now With More Numbers…: Apparently a graph is worth…*checks post stats* 1176 words, but I’m guessing this makes more sense to most normal people.

[unable to retrieve full-text content]How Monopsonies Work, Now With More Numbers…: Apparently a graph is worth…*checks post stats* 1176 words, but I’m guessing this makes more sense to most normal people.

Report.Economic Policy InstituteIt’s not just monopoly and monopsony: How market power has affected American wages Josh Bivens, Lawrence Mishel, and John SchmittSee alsoFrom Poverty to PowerThe World Bank’s flagship report this year is on the future of work – here’s what the draft says Duncan Green, strategic adviser for Oxfam GB

That idea, that the market ensures that only the most efficient prosper, is a central message of neoliberal ideology, and it has held UK and US governments under its sway since the time of Thatcher and Reagan. But that ideology contains a large and deep internal contradiction, which applies particularly to large firms like Carillion. To see what that contraction is, we need to talk about ordoliberalism and Ronald Coase.Ordoliberalism is widely known as the German version of neoliberalism....