By enabling them to become entrepreneurs, they can have better chances of earning income that's above
subsistence wage.
This recognition that the bottom of the labor market, absent offsetting legislation or collective bargaining, would be pushed down toward a
subsistence wage has a long pedigree.
If the phrase means anything in literal terms, it would have to mean a
subsistence wage. But no advocate of the so-called "living wage" wants to forcibly reduce wages to that required for mere subsistence.
If I pay a
subsistence wage when I could pay a living wage, for example, I may not be adequately respecting the human rights of my employees, even though they might not have had even a
subsistence wage without my presence.
Smith was aware of market failures, and the impact these would have on the
subsistence wage. In the context of an employer-controlled parliament, however, he did not seek legislative remedies for below
subsistence wages.
The key then is to live within your means, if you have at least a
subsistence wage. Yes, you've heard it before: don't spend more than what you earn.
93) took the natural wage to be simply the
subsistence wage, s.
Land-workers, the majority illiterate and unsophisticated, fed on media and myths, continue to migrate to the metropolis in search of a
subsistence wage, education and the consumerism promised by advertising.
Each worker is paid a fixed
subsistence wage s consisting of wheat and measured by the slope of OC, or s = CD/OD.
In contrast, the Keynesian/structuralist supply curve of labour is horizontal say at the
subsistence wage level ([w.sub.s]) and a shift in the demand for labour changes the level of employment between [E.sub.2] and [E.sub.,1].
Those who fail to pay salaries, who delay them systematically and allow them to stay below the
subsistence wage are to be censured by society.
After all, what the landowner pays is the "usual daily wage." Assuming that this is a
subsistence wage, all the landowner is doing is providing a day's life to those hired later in the day.