Of Monopoly and Monopsony…

May 11, 2008

My new favorite academic blogger, Kathy G, takes a detailed look at economic theories of efficient labor markets over at Crooked Timber (she’s a guest there this week). I think it’s an excellent explanation of why labor economists should learn to stifle their gag reflex whenever some says “minimum wage”

Even if you’ve never heard of monopsony, it’s definitely worth checking out…

Normally, Kathy blogs at The G Spot. Sorry, Kathy, but I’m not wild about the name, but then again, who am I to cast stones?

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