Answered

Find the best answers to your questions with the help of IDNLearn.com's expert contributors. Our community provides accurate and timely answers to help you understand and solve any issue.

The iron law of wages was the belief that:

A. Employers would never pay more than a subsistence wage.
B. Population increases as long as wages were above the subsistence level.
C. Output growth must always be less than population growth.
D. Output growth slowed as the population increases.

Sagot :

GinnyAnsweridn

Final answer:

The iron law of wages states that employers would not pay more than a subsistence wage, as explained by Marx in his theory predicting the decline of capitalism.


Explanation:

The iron law of wages was the belief that employers would never pay more than a subsistence wage. This concept, supported by Marx, suggested that wages would tend towards a level just enough to keep workers alive, with any increase above this level leading to factors that push wages back down, such as a rise in population. Marx's theory, based on the labor theory of value, predicted the eventual collapse of capitalism, advocating for socialist regimes to replace it.


Learn more about Iron law of wages here:

https://brainly.com/question/33716333


Thank you for using this platform to share and learn. Don't hesitate to keep asking and answering. We value every contribution you make. IDNLearn.com has the answers you need. Thank you for visiting, and we look forward to helping you again soon.