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"Antitrust law has very rarely been used by workers to challenge anticompetitive employment practices. Yet recent empirical research shows that labor markets are highly concentrated, and that employers engage in practices that harm competition and suppress wages. These practices include...
Persistent link: https://www.econbiz.de/10012505434
Employee covenants not to compete bar workers who leave their jobs from working for a competing employer for a period of time. The common law regards noncompetes as restraints of trade and imposes a “reasonableness” standard on them; they can also be challenged under the antitrust laws. But...
Persistent link: https://www.econbiz.de/10014104178
Recent empirical studies have revealed that labor market monopsony is far more common than previously thought, and that there is a strong correlation between wage suppression and labor market concentration. Yet few antitrust cases have been brought by workers against employers who exercise...
Persistent link: https://www.econbiz.de/10012894716
Persistent link: https://www.econbiz.de/10013326705
In its current form, antitrust law is often said to advance consumer welfare and to disregard economic inequality. But with the right priority-setting and other modest reforms, efforts to increase consumer welfare might simultaneously reduce economic inequality. Because monopoly and monopsony...
Persistent link: https://www.econbiz.de/10013306432
In his article, The Application of Antitrust Law to Labor Markets—Then and Now, Richard Epstein argues that rather than urge courts and regulators to apply antitrust law to labor markets, reformers who care about labor market competition should try to constrain unions. In this reply, I argue...
Persistent link: https://www.econbiz.de/10013311793
Recent research indicates that labor market power has contributed to wage inequality and economic stagnation. Although the antitrust laws prohibit firms from restricting competition in labor markets like in product markets, the government does little to address the labor market problem and...
Persistent link: https://www.econbiz.de/10014115911