monopsony

noun
mo·​nop·​so·​ny | \ mə-ˈnäp-sə-nē How to pronounce monopsony (audio) \
plural monopsonies

Definition of monopsony

: an oligopsony limited to one buyer

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Other Words from monopsony

monopsonistic \ mə-​ˌnäp-​sə-​ˈni-​stik How to pronounce monopsony (audio) \ adjective

Examples of monopsony in a Sentence

Recent Examples on the Web Among economists, there’s a debate about whether the company is creating a kind of monopsony, where there’s only one buyer—or in this case one employer. al, "How Amazon drove Alabama warehouse workers to unionize," 18 Dec. 2020 Liberal economists and Democrats say that raising the minimum wage is unlikely to have a significant negative effect on jobs because of the monopsony power that employers have. Nihal Krishan, Washington Examiner, "Biden set to push minimum wage hikes," 4 Dec. 2020 This school of thought argues that some labour markets are characterised by a market structure known as monopsony. The Economist, "Raising the floor What harm do minimum wages do?," 15 Aug. 2020 Because not all workers are willing to work at these depressed wages, monopsony leads some workers to quit. Suresh Naidu, Eric Posner, Vox, "More and more companies have monopoly power over workers’ wages. That’s killing the economy.," 6 Apr. 2018 Just as a monopoly is the only company selling a particular good or service in a given market, a monopsony is the only company buying one. Matt Darling, Quartz at Work, "Ready to destroy a longstanding argument against raising the minimum wage?," 28 Aug. 2019 Newsletter Sign-up Long-stagnant wages have focused academic attention on monopsony power. Paul J. Davies, WSJ, "Big Buyers Beware the New Trustbusters," 28 Dec. 2018 Pooh-poohs increasingly popular explanations like monopsony and worker leverage. Matthew Yglesias, Vox, "Trump’s White House says wages are rising more than liberals think," 6 Sep. 2018 One such factor might be what economists call monopsony, or concentrated market power. Noah Smith, chicagotribune.com, "A job market this tight should deliver bigger raises," 11 June 2018

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'monopsony.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of monopsony

1933, in the meaning defined above

History and Etymology for monopsony

mon- + -opsony (as in oligopsony)

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Time Traveler for monopsony

Time Traveler

The first known use of monopsony was in 1933

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Cite this Entry

“Monopsony.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/monopsony. Accessed 6 Mar. 2021.

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More from Merriam-Webster on monopsony

Britannica.com: Encyclopedia article about monopsony

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