Ricardo's "iron law of wages" held that wages for workers

Name: Ricardo's "iron law of wages" held that wages for workers
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Ricardo believed that wages would always tend to stay at the subsistence level, the bare minimum necessary to sustain the worker and their family. He argued that if wages rose above this level, it would lead to an increase in population and a surplus of labor, which would eventually drive wages back down to subsistence. This theory was known as the "iron law of wages."

Ricardo's "Iron Law of Wages" Held That Wages for Workers