Chapter 3 explores the meaning of market power, especially in labor markets. Concentrations of power on either side of such markets make exploitation, discrimination, and domination possible; introducing effective competition into such contexts advances market freedom, understood as non-domination in exchange relations. The republican economic model developed here resembles a modified version of a common European social model, viz. the Nordic model, which combines flexible labor markets, free trade, and bracing competition with high levels of social support in the form of generous welfare benefits and job retraining. This chapter also shows that market freedom is a kind of antipower on Pettit’s own understanding of the term and that Pettit and other neo-republicans anticipate this result in their own writings. The chapter concludes with some reflections on the limits of exit as a tool for curbing market domination and on how its findings extend and reorient republican theory.
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