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<p>This article highlights some of Adam Smith’s observations with regard to competition and collusion in the labor market. These observations include: (1) competitive labor markets; (2) frictions in the labor market that interfere with competition; (3) collusion among employers; (4) collusion among employees; and (5) bilateral monopoly. Smith’s observations are related to a variety of current public policy issues that involve antitrust law and labor law.</p>

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Adam Smith’s Observations on Competition and Collusion in the Labor Market

  • 期刊论文

  • 发表日期：

    2026年2月19日

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  • Brianna L. Alderman,
  • Roger D. Blair

摘要

This article highlights some of Adam Smith’s observations with regard to competition and collusion in the labor market. These observations include: (1) competitive labor markets; (2) frictions in the labor market that interfere with competition; (3) collusion among employers; (4) collusion among employees; and (5) bilateral monopoly. Smith’s observations are related to a variety of current public policy issues that involve antitrust law and labor law.