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Home > Iron law of wages

The title of a pamphlet published in 1817 by the classical economist David Ricardo it was later adopted by Karl Marx and influenced his early pessimistic views about the possibility of workers benefiting from capitalism.

The Austrian School replied that value was dependent on the value that labor brought to the entrepreneur rather than any endless supply of labor.

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David Ricardo: The Iron Law of Wages

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Topics: Iron Law Of Wages Labor Value Workers Adopted Marx Pessimistic...

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