programs inducing retirement? I suggest not, by formalizing the monopoly unionism model and showing how labor's interest in … objectives of the monopoly union. And, unless the old have a disproportionate influence within the union, union interests cannot …

more than the standard price theoretic "monopoly" model of unionism. New (and/or old) perspectives based on institutional …

, suffer a loss, that is not offset by gains to the monopolist. This is the "deadweight loss" from monopoly, and in … conventional analysis the only social cost of monopoly. The loss suffered by those who continue to buy the product at the higher … cost is regarded merely as a transfer from consumers to owners of the monopoly seller and has not previously been factored …