Subsistence Theory of Wages in Hindi

French economists from the Physiocratic School of the 18th century first developed the subsistence theory of wages. German economist Lasalle further expanded and enhanced it; they dubbed it the Brazen Law of Wages or the Iron Law of Wages. The notion of wages was also influenced by Ricardo and Malthus. It served as the cornerstone of Karl Marx's exploitation theory.

This video discusses this theory in detail.

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