Source: Adam Smith Institute
by Tim Worstall
“The US health care system includes many employers, each competing for the money that can be made off the services of a nurse. The NHS is the – near – monopsonistic employer of nurses in the United Kingdom. Karl was quite right, the workers get screwed by the single employer. There’s not all that much Marx did get right – and most of what he did was what he cribbed from Smith and Ricardo – but this part, monopoly purchase of labour being bad for workers is one of those few things correct that he independently arrived at.” (09/08/260
https://www.adamsmith.org/blog/to-take-marxs-warning-about-monopoly-capitalism-seriously