Imperfect Competition in Labor Markets

President Biden’s recent Executive Order on “Promoting Competition in the American Economy” centered employers’ monopsony power and anticompetitive conduct as core components of American competition policy. This is long overdue. At least since Joan Robinson’s revolutionary theorization of imperfect competition in labor markets in 1933, labor economists and social scientists have theorized and empirically documented the extent as well as micro- and macroeconomic effects of employer mono