“Monopsony” wins hands down for today’s title. Used in “How Book Publishers Can Beat Amazon,” “monopsony” is defined in the enlightening piece by Bob Kohn as when a buyer of goods has the power to unlawfully lower the prices of what it buys. “Monopsony” is the mirror image of “monopoly,” which is when a seller of goods has the power to unlawfully raise prices. Seems to me we have a lot of situations these days that sure feel like monopolies and monopsonies. Take the airline industry, which has three or four major carriers that keep finding new ways to wrest money from their customers. And Walmart, which seems to control its suppliers perhaps more than it should. Anyone up for creating a game called “Monopsony”?
- RT @TeamJoe: Donald Trump just refused to denounce white supremacists. 43 minutes ago
- RT @WSJ: How to Vote by Mail in Every State. This Article Is Free To Help You Navigate Election 2020. 43 minutes ago
- RT @peggyflanagan: When explicitly asked, the President refused to condemn white supremacists. What else do you need to know? #Debates2020 43 minutes ago
- RT @AndrewYang: Trump actually runs the government that controls the US Forest Service. 43 minutes ago
- RT @Acosta: Trump didn’t condemn white suprematists when given the chance, simply saying the Proud Boys should “stand back and stand by.” 43 minutes ago