Thread by @AntitrustCaucus

The first @AntitrustCaucus briefing will focus on the impact of economic concentration on racial and gender inequality:

The briefing panelists include @Sally_Hubbard, @NellAbernathy, Seema Nanda of @civilrightsorg, Prof. Marcellus Andrews of @BucknellU, and @DiBartz of @Rueters, who will moderate the panel.

Over the past several decades, waves of mergers coupled with lax antitrust enforcement have led to excessive concentration and market power across the economy. economist.com/news/briefing/…

There is mounting evidence that economic concentration in labor markets, also referred to as monopsony power, has exacerbated gender and racial inequality.

.@JHWeissmann of @Slate recently described monopsony as “monopoly’s quieter, less appreciated twin sibling” that is able to “pay whatever it likes for labor or supplies, because it’s the only company buying or hiring.” slate.com/business/2018/…

.@Econ_Marshall: “Monopsony power is very real. Firms pay workers very differently, even ones with similar skills and experience—a reality that would be impossible in a competitive labor market.” rooseveltinstitute.org/its-time-antit…

Predictably, corporate concentration affects workers who have less bargaining power the most.

.@Sally_Hubbard, former antitrust enforcer for @AGSchneiderman, notes that “[a]s monopolistic and oligopolistic power closes these pathways and wreaks havoc on equality of opportunity, it shouldn't come as a surprise that women are hit especially hard.” forbes.com/sites/washingt…

A 2016 issue brief by the White House Council of Economic Advisers found evidence of monopsony power throughout the economy, and underscored its effects on inequality:
obamawhitehouse.archives.gov/sites/default/…

Growing corporate concentration have also undermined minority businesses ownership, something Prof. Marcellus Andrews of @BucknellU has called a “catastrophic intellectual and political policy mistake.” washingtonmonthly.com/magazine/march…

And, even worse, inequality caused by market power becomes self-perpetuating and has political ramifications.

Nobel laureate economist @JosephStiglitz explains that growing "economic inequality leads to an increase in political inequality, which can and has been used to create rules of the game that perpetuate economic inequality.” thenation.com/article/americ…

During the briefing, policy experts and Members of the @AntitrustCaucus will examine and discuss these concerns.

Join us today at NOON for the first #antitrust briefing held by the @AntitrustCaucus. It will focus on the impact of concentrated economic power on racial and gender inequality and will be live-streamed here: facebook.com/AntitrustCaucu…