iron 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

Word History

Etymology

intended as translation of German ehernes lohngesetz, literally, brazen law of wages

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Dictionary Entries Near iron law of wages

Cite this Entry

“Iron law of wages.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/iron%20law%20of%20wages. Accessed 26 Nov. 2024.

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