iron law of wages
Definition of 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
Join MWU now and get access to America’s largest dictionary, with:
- 300,000 words that aren't in our free dictionary
- Expanded definitions, etymologies, and usage notes
- Advanced search features
- Ad free!
Origin and Etymology of iron law of wages
intended as translation of German ehernes lohngesetz, literally, brazen law of wages
Seen and Heard
What made you want to look up iron law of wages? Please tell us where you read or heard it (including the quote, if possible).