wage-fund theory
noun
variants
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 compare iron law of wages, subsistence theory
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“Wage-fund theory.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/wage-fund%20theory. Accessed 26 Nov. 2024.
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