The hidden power keeping wages low

For decades, economists gave short shrift to the idea of monopsony — a power employers can have to suppress wages. Now a wave of research suggests it's everywhere, and a new book argues it's key to understanding today's inequality.

For decades, economists gave short shrift to the idea of monopsony — a power employers can have to suppress wages. Now a wave of research suggests it's everywhere, and a new book argues it's key to understanding today's inequality.