Antitrust Lessons from Labor

Competition law encompasses both product markets and input markets: that is, it protects buyers but also sellers. Recently, antitrust in the United States has paid increased attention to workers as sellers of labor services. Antitrust policymakers on one hand, and workers, trade unions, and labor economists on the other, have much to learn from each other. Adequately incorporating harms to workers will require competition policymakers to reassess consumer welfare and maximum output policy prescr