The standard theory of monopsony originated with Joan Robinson in her The Economics of Imperfect Competition (1933). This standard theory describes employers as facing upward-sloping supply curves of labor,
Volume 10, Number 3 (Spring/Summer 1989) Don Bellante discusses the fallacies of government intervention into the labor market, and how an Austrian approach provides insight into these fallacies.
Sponsored by the Mises Institute and held in Harvard Square, Massachusetts; April 28-29, 1989.
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.
