Re:Creative workers deserve better than a choice as to who r...
by bostik on Saturday June 22, 2024 @01:02PM
(#40760443)
> more than the market says it's worth.
If you control the market, and have a direct way of influencing what the law considers the market, that is by definition not a competitive (and/or mostly free) market.
The name for this scenario is known as "Hobson's Choice"[0].
Also, the word for a market where you have only a couple of buyers (all colluding with each other) is called a monopsony.
If you control the market, and have a direct way of influencing what the law considers the market, that is by definition not a competitive (and/or mostly free) market.
The name for this scenario is known as "Hobson's Choice"[0].
Also, the word for a market where you have only a couple of buyers (all colluding with each other) is called a monopsony.
0: https://en.wikipedia.org/wiki/Hobson%27s_choice