Publications: Papers

America's Wage Problem (The International Economy, Fall 2014)

 

In this paper, Dr. Verleger asks the question, "Why are we surprised that fewer people want to work?" To answer the question, he explores the growing monopsony power of employers—a monopsony being a market where the purchaser of goods and services can dictate terms since one buyer faces many sellers. The failure to recognize and address this structural change, he notes, may restrain the nation’s economic growth for a decade or more by limiting growth in per capita income and the number of individuals seeking employment.