subsistence theory of wages

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• Subsistence theory of wages — The Subsistence Theory of Wages, also known as the Iron Law of Wages, was a law of economics that asserted that real wages in the long run would trend toward the value needed to keep the workers population constant. The alleged law was named and… …   Wikipedia

• subsistence theory — noun : a theory in economics: wages tend toward the lowest level that will provide subsistence compare iron law of wages, wage fund theory …   Useful english dictionary

• wage theory — ▪ economics       portion of economic theory that attempts to explain the determination of the payment of labour.       A brief treatment of wage theory follows. For full treatment, see wage and salary.       The subsistence theory of wages,… …   Universalium

• distribution theory — ▪ economics Introduction       in economics, the systematic attempt to account for the sharing of the national income among the owners of the factors of production land, labour, and capital. Traditionally, economists have studied how the costs of …   Universalium

• Malthusian theory — refers to: *Malthusian catastrophe *Neo malthusianism *Malthusian *Thomas Malthus *Malthusian growth model *Overpopulation *An Essay on the Principle of PopulationRelated: *The Population Bomb *Subsistence theory of wages *Club of Rome *Risks to… …   Wikipedia

• Classical theory of growth and stagnation — Classical economics refers to work done by a group of economists in the eighteenth and nineteenth centuries. The theories developed mainly focused on the way market economies functioned. Classical Economics study mainly concentrates on the… …   Wikipedia

• iron law of wages — Etymology: intended as translation of German ehernes lohngesetz, literally, brazen law of wages : a statement in economics: wages naturally tend to fall to the minimum level necessary for subsistence called also brazen law of wages * * * Econ.… …   Useful english dictionary

• wage-fund theory — noun or wages fund theory : a theory in economics: there is at any one time a rigid capital fund available for wage payments, and increases in wage rates to any groups will only redistribute wage payments, not increase the aggregate of wages paid …   Useful english dictionary

• iron law of wages — Econ. the doctrine or theory that wages tend toward a level sufficient only to maintain a subsistence standard of living. Also called brazen law of wages. [1895 1900] * * * …   Universalium

• Labor theory of value — The labor theories of value (LTV) are theories in economics according to which the values of commodities are related to the labor needed to produce them.There are many different accounts of labor value, with the common element that the value of… …   Wikipedia

• World-systems theory — The world systems theory (also known as the world systems analysis[1]) is a multidisciplinary, macro scale approach to world history and social change.[1][2] The world systems theory stresses that world systems (and not nation states) should be… …   Wikipedia