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View Diary: WalMart: Monopsony Destabilizes Economies as Much as Monopoly Does (76 comments)

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  •  Interesting definition from MW (1+ / 0-)
    Recommended by:
    FarWestGirl

    This is from the online version of Merriam-Webster  Dictionary-added bold

    In economic theory, market situation in which there is only one buyer. An example of pure monopsony is a firm that is the only buyer of labour in an isolated town; such a firm would be able to pay lower wages to its employees than it would if other firms were present. Though cases of pure monopsony are rare, monopsonistic elements are found wherever there are many sellers and few purchasers.

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