iron law of wages


nounEconomics.
  1. the doctrine or theory that wages tend toward a level sufficient only to maintain a subsistence standard of living.

Origin of iron law of wages

1
First recorded in 1895–1900
  • Also called brazen law of wages.

Words Nearby iron law of wages

Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2024