| 单词 | countervailing power |
| 释义 | countervailing power The use of organizations to protect their members against monopolistic exploitation by others. Examples include the formation of co-operatives to protect consumers from suppliers and the formation of trade union to protect workers against monopsonistic employers. The alternative is control of the monopolists by public regulatory authorities. Critics of the use of new monopolies to fight old ones point to the danger that the old and new monoplies may collude to exploit the rest of the community. A monopolist and the trade union representing its employees, for example, may unite to exploit both their customers and ‘outsiders’ excluded from jobs in the industry. |
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