The problem of labor market monopsony—buyer power among employers—has gotten increasing attention in recent years, including in my 2016 Roosevelt Institute paper with Roosevelt fellow Mike Konczal, in a Council of Economic Advisors issue brief, and in a widely-circulated paper by economist Simcha Barkai. The basic idea of monopsony is that if employers don’t have

This week, the Senate Judiciary Committee is holding a hearing about the consumer welfare standard to determine whether it is outdated or remains the worthwhile core principle of antitrust enforcement. The hearing comes amid widespread questioning about antitrust’s effectiveness in recent decades. As the debate over the AT&T-Time Warner merger rages, this hearing is particularly timely.

The recent deal reached between Senate Banking Committee Chairman Mike Crapo (R-ID) and nine Senate Democrats, which the Senate Banking Committee approved earlier this week, is bad policy—and even worse politics. Americans understand they are being taken advantage of by the banks they depend on, and they fear that Wall Street lobbyists are rigging the

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The agreement reached between Senate Banking Committee Chairman Mike Crapo and ten Senate Democrats is billed as a necessary technical fix to Dodd-Frank and regulatory relief for community banks. But this proposal would cause more harm than many—including some allies—currently believe. It would expose risk to mid-sized banks, threaten the stability of the financial industry,

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This is an edited version of his talk delivered at “Does America Have a Monopoly Problem,” co-hosted by the Roosevelt Institute and the George Washington Institute of Public Policy on September 25, 2017, in Washington, DC. The Nobel Prize winner argues that an economy dominated by large corporations has failed the many and enriched the

Yesterday, two nominees went before the Senate Banking, Housing, and Urban Affairs Committee for a chance to become the next commissioners of the Securities and Exchange Commission. We were thrilled to see Senator Brian Schatz ask the nominees to give their thoughts about the stock buyback “safe harbor,” Rule 10b-18, and even more excited that both

Progressives should embrace employee ownership as one of the best ways to challenge corporate power from the bottom up and put supporting the growth of worker-owned firms in the center of our strategy. As the economy becomes Uber-ized and dominant firms in all sectors take up more and more market share, structural reforms like better

Despite energetic conversations around stagnant wages and job creation, few consider that the financialization of America’s public corporations has contributed just as much to economic inequality as more commonly-cited factors. The debate seems well-settled: scholars point to globalization[1], skill-biased technical change[2], and the decline of union density[3]. Others point to the “rise of the robots”[4],

The other day, Scott Greenberg of the Tax Foundation claimed that “Tax Rates on the Rich Were Not That Much Higher in the 1950s.” His idea? That despite a statutory top marginal income tax rate of 91% in that era, the rich actually paid a much lower effective tax rate, because they were able to

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#BreakUpAmazon

This morning Amazon announced its planned purchase of Whole Foods for $13.7 billion – a 27 percent premium over its share price at the close of business Thursday. To Americans who have made Amazon America’s most reputable company three years running, this may sound like good news, but we here at the Roosevelt Institute are