monopsony

Amazon's monopsony power: the other antitrust white meat

In 2017, law student Lina Khan shifted the debate on Amazon and antitrust with a seminal paper called Amazon's Antitrust Paradox, which used Amazon's abusive market dominance to criticize the Reagan-era shift in antitrust enforcement, which rewrote the criteria for antitrust enforcement, so that antitrust no longer concerned itself with preventing monopoly, and only focused on "consumer harm" in the form of higher prices. Read the rest

Facebook and Big Tech are monopsonies, even when they're not monopolies

Big Tech is often in a monopoly situation (for example, Amazon's Audible owns something like 90% of the audiobook market), but even where they aren't monopolies, they are often monopsonies: a single buyer that controls the whole market that a variety of sellers want to sell into. Read the rest

One company bought all the retail outlets for glasses, used that to force sales of all the eyewear companies and jacked up prices by as much as 1000%

If you wear glasses, you might have noticed that they've been getting steadily more expensive in recent years, no matter which brand you buy and no matter where you shop. Read the rest

Netflix walks away from App Store payments, costing Apple up to $256m/year

When Ios launched, Apple's App Store took a 30% royalty on all apps sold. App vendors responded in large part by switching to free apps that charged in-app for annual subscriptions and other fees, prompting Apple (by then the dominant smartphone seller and critical to many companies' businesses) to ban in-app purchases except through Apple, which would charge a 30% commission on the lifetime revenues from each user. Read the rest

The US workforce is the most productive, best educated in history and unemployment is at an all-time low, but wages are stagnant

Orthodox market economics holds that when unemployment falls and the labor supply gets tighter wages go up; it also predicts that better-educated workers and more-productive workers get paid more for their work -- none of this has happened. Read the rest

The majority of US workers live in "employment monopsonies" where there is little or no competition for workers

In Labor Market Concentration, a new working paper from economists at U Penn, U Navarra and the Roosevelt Institute, researchers analyze a large US government data-set to determine how many workers live in markets where there is effective only one or two employers, a situation called "monoposony" (when a single buyer has a monopoly). Read the rest

Uber and the appropriation of public space

The debate over technology and disruption is a red herring, writes Glenn Fleishman. The trouble with Uber is that it's a middleman that can control both ends of the market.

New photos of Mount St. Helens discovered

Newspaper photographer Reid Blackburn died in the eruption of Mount St. Helens in 1980. This year, reporters at his paper — the Vancouver, Washington, Columbian — discovered a never-before-seen roll of photos he took flying over the volcano about a month before his death. Read the rest

Field trip guide to Mount St. Helens

Geology blogger Dana Hunter is putting together some resources that will allow you to take yourself on a fantastic tour of America's most famous volcano. Includes maps, suggested background reading, and routes that will ensure you get to see the most interesting spots on the mountain — and learn stuff while doing it! Read the rest

Read a moving account of surviving (and dying on) Mount St. Helens

At National Geographic, you can read Rowe Findley's 1981 account of surviving the Mount St. Helens eruption — and his deeply moving profiles of many of the people who did not. Includes this seminal quote from 83-year-old Harry R. Truman, who Findley describes as raising "the adjectival use of profanity to a new high": "It's a part of me, and I'm part of that ______ mountain," said Truman. "If I got out of here, I wouldn't live a _____ day, not a ______ day." Read the rest

:)