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The Iron Law of Wages was first proposed by Ferdinand Lassalle. It is a law of economics that states that wages always tend toward the minimum amount necessary to sustain the life of the worker.
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David Ricardo's theory called the Iron Law of Wages came to be called?
David Ricardo's theory called the Iron Law of Wages came to be called the Theory of Efficiency of Wages. The Iron Law of Wages says that the worker is going to be paid the minimum wage needed to survive.
Which of the following best describes david ricardo's iron law of wages?
David Ricardo's "iron law of wages" basically states that parents would have more children if wages were raised. These children would then expand the number of workers and lower wages as they entered the labor market. Then, wages would fall and the workers would have fewer children. The process would then start over as wages would once again rise. He used this logic to advocate that wages would always tend toward a minimum level in the long run, hence the "iron law of wages" with static, unchanging wages. Many employers used this argument to support their natural reluctance to raise wages. This "iron law of wages" was also used to provide theoretical support for opposing labor unions.
What kind of science did david ricardo's theory called the iron law wages come to be called?
DISMAL
What economist wrote in Iron Law of Wages that it was pointless to increase wages because this just led to families having more children and that their wages would only cover the cost of necessi?
David Ricardo
A banker and a member of Britain's parliament who developed the iron law of wages and introduced the idea of comparative advantage in Principles of Political Economy and Taxation?
Your Answer: David Ricardo Correct
David Ricardo's theory called the Iron Law of Wages came to be called?
David Ricardo's theory called the Iron Law of Wages came to be called the Theory of Efficiency of Wages. The Iron Law of Wages says that the worker is going to be paid the minimum wage needed to survive.
What goes through cycles according to iron law and wages?
Population goes through cycles according to iron law and wages.
Who wrote the iron law of wages?
Dr. Seuss
What was Thomas Malthus' minimum wage theory?
The Iron Law Of Wages
Which of the following best describes david ricardo's iron law of wages?
David Ricardo's "iron law of wages" basically states that parents would have more children if wages were raised. These children would then expand the number of workers and lower wages as they entered the labor market. Then, wages would fall and the workers would have fewer children. The process would then start over as wages would once again rise. He used this logic to advocate that wages would always tend toward a minimum level in the long run, hence the "iron law of wages" with static, unchanging wages. Many employers used this argument to support their natural reluctance to raise wages. This "iron law of wages" was also used to provide theoretical support for opposing labor unions.
David ricardo iron law of wages?
David Ricardo's "iron law of wages" basically states that parents would have more children if wages were raised. These children would then expand the number of workers and lower wages as they entered the labor market. Then, wages would fall and the workers would have fewer children. The process would then start over as wages would once again rise. He used this logic to advocate that wages would always tend toward a minimum level in the long run, hence the "iron law of wages" with static, unchanging wages. Many employers used this argument to support their natural reluctance to raise wages. This "iron law of wages" was also used to provide theoretical support for opposing labor unions.
What goes through cycles according to the theory iron law of wages?
population
What kind of science did David Ricardo's theory of the iron law of wages come to be called?
DISMAL
What kind of science did david ricardo's theory called the iron law wages come to be called?
DISMAL
What kind of science did David Ricardo's theory called the iron law of wages come the be called?
DISMAL
What economist wrote in Iron Law of Wages that it was pointless to increase wages because this just led to families having more children and that their wages would only cover the cost of necessi?
David Ricardo
What Cycle in which size of workers families and thus of labor pool grows or shrinks based on salaries paid?
Iron Law of Wages
