THE PRICE OF PRODUCTS. IV. THE DEMAND-MONOPOLY
Socialist doctrine maintains that capital exercises a monopoly of demand in the labor market. Were the contention well founded, the monopoly would be one of extreme importance. The proofs, however, which can be adduced as to cases of demand-monopoly, are of far less importance. Without precluding later examination of the socialist contention, we may avail ourselves of the theoretical proofs offered in its behalf as ready auxiliaries in formulating a general theory of the monopoly of demand.