Book Search:  

 

 
Google full text of our books:

bookjacket

Monopsony in Motion:
Imperfect Competition in Labor Markets
Alan Manning

Paperback | 2005 | $57.50 / £39.95 | ISBN: 9780691123288
416 pp. | 6 x 9 | 28 line illus. 50 tables.
| SHOPPING CART

eBook | ISBN: 9781400850679 |
Our eBook editions are available from these online vendors

Reviews
Chapter 1 [HTML] or [PDF] pdf-icon

What happens if an employer cuts wages by one cent? Much of labor economics is built on the assumption that all the workers will quit immediately. Here, Alan Manning mounts a systematic challenge to the standard model of perfect competition. Monopsony in Motion stands apart by analyzing labor markets from the real-world perspective that employers have significant market (or monopsony) power over their workers. Arguing that this power derives from frictions in the labor market that make it time-consuming and costly for workers to change jobs, Manning re-examines much of labor economics based on this alternative and equally plausible assumption.

The book addresses the theoretical implications of monopsony and presents a wealth of empirical evidence. Our understanding of the distribution of wages, unemployment, and human capital can all be improved by recognizing that employers have some monopsony power over their workers. Also considered are policy issues including the minimum wage, equal pay legislation, and caps on working hours. In a monopsonistic labor market, concludes Manning, the "free" market can no longer be sustained as an ideal and labor economists need to be more open-minded in their evaluation of labor market policies. Monopsony in Motion will represent for some a new fundamental text in the advanced study of labor economics, and for others, an invaluable alternative perspective that henceforth must be taken into account in any serious consideration of the subject.

Review:

"Given the breadth and depth of the issues Manning covers--clearly, a staggering amount of work went into this book--even skeptical readers will not be able to dismiss his theory lightly. . . . The book is so well written that even the most complicated material in it is readable. The presentation is also commendably well balanced. . . . [It] deserves a place on our bookshelves alongside the other seminal works in labor economics."--Michael Rizzo, Industrial and Labor Relations Review

"The manner of Manning's exposition of his arguments advocating the monopsonist view is impressive. . . . [I]t will be hard for even the utmost skeptic and expert not to come away having learnt something more about labor economics."--Eric A. Strobl, Journal of Economic Behavior and Organization

Endorsement:

"This is a fine book, revealing a breadth of scholarship and vision. It pulls many threads together in labour economics to offer a thought-provoking re-evaluation of how labour economists approach many topics, including market power, wage distributions and wage equations, and the economics of education and training. As such it should appear on the syllabi of graduate labour economics programmes."--Richard Disney, Nottingham University

"The best way to appreciate the value of this book is to go to its first table. There, the author provides an overview of what textbooks in labor economics have to say about monopsony and imperfect competition--not all that much. In that light, Alan Manning's book fills a real gap in the discipline. The book shows that the monopsony model provides a simple alternative explanation for a number of well-known stylized facts of labor markets."--Coen N. Teulings, General Director, Tinbergen Institute, Amsterdam

More Endorsements

Subject Area:

Shopping Cart:

  • For ebooks:

Our eBook editions are available
from these online vendors:

  • Google Play eBook Store
  • Kno eBook Store
  • Many of our ebooks are available through
    library electronic resources including these platforms:

  • Books at JSTOR
  • Ebrary
  • Ebook Library
  • EBSCO Ebooks
  • MyiLibrary
  • Dawsonera (UK)

  • Shopping Cart:

    • For hardcover/paperback orders:

      For hardcover/paperback orders in the United States, Canada, Latin America, Asia, and Australia

      Paperback: $57.50 ISBN: 9780691123288

      For hardcover/paperback orders in Europe, Africa, the Middle East, and India

      Paperback: £39.95 ISBN: 9780691123288

      Prices subject to change without notice

      File created: 7/11/2014

    Questions and comments to: webmaster@press.princeton.edu
    Princeton University Press

    New Book E-mails
    New In Print
    PUP Blog
    Videos/Audios
    Princeton APPS
    Sample Chapters
    Subjects
    Series
    Catalogs
    Princeton Legacy Library
    Textbooks
    Media/Reviewers
    Class Use
    Rights/Permissions
    Ordering
    Recent Awards
    Princeton Shorts
    Freshman Reading
    PUP Europe
    About Us
    Contact Us
    Links
    F.A.Q.
    PUP Home


    Bookmark and Share
    Send me emails
    about new books in:
    Economics
    More Choices
    Email:
    Country:
    Name: