Episode Synopsis "2 Joan Robinson, part I"

In 1933, Joan Robinson popularised a word. That word was monopsony. It’s when you have only a single person or business that can buy something. This theory was outlined in Joan Robinson’s 1933 book, The Economics of Imperfect Competition. Joan was 29 years old. She had just released a book of original insights into market competition. This was her first major achievement in what would come to be a remarkable career in economics.

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