Public Citizen - The Harms of Monopolies on American Workers

Chief economist Brian Callaci’s testimony about noncompetes was mentioned in a piece about how monopolies harm workers.

As markets become more concentrated, income and wages decrease, Brian Callaci, chief economist of the Open Markets Institute, testified. Additionally, labor market concentration also has a positive correlation with the amount of labor rights violations. Callaci went on to explain that monopsony power, in which there is one dominant buyer (employer) with many sellers (employees), leads to an unfair power balance that leaves workers at a distinct disadvantage. Put simply, if there’s an overwhelmingly powerful boss in town, they can set the salary to whatever they want without fear of competition.

Read the full article in Public Citizen here.