iron law of wages

iron law of wages

noun Economics.
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.


Origin:
1895–1900

Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
Cite This Source Link To iron law of wages
Explore Dictionary.com
Previous Definition: iron lady
Next Definition: iron law wages
Words Near: iron law of wages
More from Thesaurus.com
Synonyms and Antonyms for iron law of wages
More from Reference.com
Search for articles containing iron law of wages
Dictionary.com Word FAQs

Dictionary.com presents 366 FAQs, incorporating some of the frequently asked questions from the past with newer queries.

Copyright © 2014 Dictionary.com, LLC. All rights reserved.
  • Please Login or Sign Up to use the Recent Searches feature