Article Title: Monopolies May Be Worse for Workers Than for Consumers
Article Summary
The writer here talks about the monopoly problem – the local labor markets.
Studies reveal that employers that hold monopoly take advantage of their position and hence suppress the wages of the workers.
Agar et Al’s paper says “that occupation that have only a few employers at the national level tend to have lower wages than other jobs in an area.” This evidence is important. However, more investigation needs to be done on merger and also data sources from other websites are to be analysed.
But the Agar et Al’s paper clearly points out that raising wages needs to be a key goal for anti-trust policy. And luckily, few politicians have started acting on this.
Finally the wake up!
Article Link: Click here to read the full article
Words to learn from this Article:
Monopoly: A board game in which players try to gain a monopoly on real estate as pieces advance around the board according to the throw of a die
Concentration: The spatial property of being crowded together
Deterring: Try to prevent; show opposition to
Modestly: With modesty; in a modest manner
Sluggish: Moving slowly
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