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Why the "Just Wage" Theory Doesn't Make Much Sense
Just-wage theory tells us that an employer cannot reduce his workers' wages below some presumed "cost of living." Yet, that same employer can be permitted to reduce the worker's wage to zero if the worker has been replaced by a machine.
Original Article: Why the "Just Wage" Theory Doesn't Make Much Sense
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By Mises Institute
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Just-wage theory tells us that an employer cannot reduce his workers' wages below some presumed "cost of living." Yet, that same employer can be permitted to reduce the worker's wage to zero if the worker has been replaced by a machine.
Original Article: Why the "Just Wage" Theory Doesn't Make Much Sense
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