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Finances

Monopsony

Liked Book publishers just spent 3 weeks in court arguing they have no idea what they’re doing by Constance Grady (Vox)

The Justice Department alleges the publishers’ proposed merger would form a monopsony, or an unfair buying market.

A monopsony is the mirror image of a monopoly, and is sometimes called a buyer’s monopoly. Instead of a market with only one seller who can charge whatever they like, a monopsony is a market with only one buyer, who can set their price however they like.

I don’t see how anyone could with a straight face say that two of the biggest publishing companies merging, who are anticipated to publish more than a third of the market, is not detrimental to writers having a competitive market to sell their work. But, we don’t seem to care about that too much 🤷‍♀️

See also: Book industry insights from Penguin Random House merger trial

By Tracy Durnell

Writer and designer in the Seattle area. Freelance sustainability consultant. Reach me at tracy.durnell@gmail.com. She/her.

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