Can Antitrust Be Pro-Worker?
In 1776, Adam Smith made perhaps the most famous statement linking monopoly power to labor. âMasters,â he wrote in The Wealth of Nations, âare always and everywhere in a sort of tacit, but constant and uniform, combination, not to raise the wages of labor above their actual rate.â Today, however, rather than taking Smithâs maxim as a warning, most lawyers and judges have come to treat it as a guidebook.