countervailing power

Show Summary Details

Quick Reference

The use of organizations to protect their members against monopolistic exploitation by others. Examples include the formation of cooperatives to protect consumers from suppliers and the formation of trade unions to protect workers against monopsonistic employers. The alternative is control of the monopolists by public regulatory authorities.

Subjects: Economics.

Reference entries

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.