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pricing shown. This is a CBSI and the world. I'm John Bachelor. I welcome Professor Richard Epstein,

Senior Fellow of the Hoover Institution writing and defining ideas about the

Biden administration's antitrust concerns. I go immediately to a news item at the

beginning of the month. The U.S. Justice Department's acting

head of its antitrust division, Mr. Richard Powell, said that labor markets

were a top priority for enforcement efforts, indicating a shift toward issues set by the White

House's executive orders on competition.

Richard, a very good evening to you.

That dry language points to a presentation that I learned from you in defining ideas

is about the concerns that the Biden administration have, that excessive concentration of labor of businesses leads to wage reduction if I have read you correctly.

How so? What does that mean wage reduction?

Because there are too many workers who are good masons so therefore we can cut the payment per hour we pay in this region?

Is that what they're talking about?

Well they're talking about it in some of what typical term.

The way in which they describe this as monobscony.

And a monopoly is where a seller has exclusive control over a market.

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