Bargaining, Consent and the Just Wage in the Sources of Scholastic Economic Thought

Edd S. Noell

Journal of the History of Economic Thought, 1998, vol. 20, issue 4, 467-478

Abstract: Economic justice in the labor market is an abiding issue of economic policy. Concerns regarding fair pay or just compensation were addressed in classical political economy and continue to be the objects of policy discussion. What constitutes a fair wage? How is a fair wage to be determined? Will competition in the labor market ensure that a fair wage is established? Should employers be required by the State, or persuaded on a voluntary basis, to pay wages that maintain a family's dignity and honor?

Date: 1998
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