Word: monopsonist
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Dates: during 2007-2007
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Similarly, protesters often argue that Nike has monopsonist power over the job market in some countries, which allows Nike to underpay its workers for lower costs and higher profits. Because of this, Nike—and other companies with similar employment situations—should sacrifice some of their profits to pay their employees better, since the employees’ only option is to work for Nike (or to not work at all). But simply arguing that Nike has a fiduciary “duty” to employees or that it “should” return some...
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