Monopsony in the Labour Market and the Response of Labour Law - David Cabrelli

The Commercial Law Reading Group presents

Monopsony in the Labour Market and the Response of Labour Law

Professor David Cabrelli, Edinburgh Law School

Economic orthodoxy has held that unlike some product markets, labour markets tend not to be uncompetitive, or beset by concentration. However, recent econometric research coming out of the United States is now challenging this assumption. Instead, there is increasing data suggesting that labour markets in many sectors of the economy are characterised by demand restricted to one or a few buyers of labour, with an abundance of labour supply. A number of explanations can be given for this phenomenon, but the outcome is labour market monopsony, resulting in wage stagnation, with workers being remunerated below the competitive rate that ought to be set by the market. Competition lawyers have called for greater recognition of monopsony on the part of their discipline and the courts. The question is whether labour and employment law has any part to play in addressing such monopsony. In this presentation, Professor David Cabrelli will be exploring some of the policy and employment law reform options that could be put on the table to do just that.

As convenors of Edinburgh Commercial Law Reading Group at the University of Edinburgh Law School, we are delighted to invite you to our new event in the format of presentation and discussion. The event is free to attend, but registration is required. Please register via the link below.

Commercial Law Reading Group Convenors
Aziz Ozturk, Claudia Paduano, and Eric Chang

Event Link

Register on Eventbrite