International Political Economy: The subsistence theory of wages

Question

The subsistence theory of wages

Angelie Bayaban · Accepted Answer

advanced by David Ricardo and
other classical economists, was based on the population theory of Thomas
Malthus. It held that the market price of labour would always tend toward the minimum required for subsistence.

International Political Economy

The subsistence theory of wages

Advanced by David Ricardo and other classical economists, was based on the population theory of Thomas Malthus. It held that the market price of labour would always tend toward the minimum required for subsistence.

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