Wages and work effort in English economic thought, 1670-1770

Anastassios Karayiannis and Ioannis Katselidis

The European Journal of the History of Economic Thought, 2014, vol. 21, issue 2, 230-251

Abstract: This article, by examining the two strands of thought developed during the period 1670-1770 in English economic thought with respect to the preferable wage rates, intends to evaluate the theoretical arguments which specify the pre-classical theses for or against low real wages and to analyse how the relationship between wages and individuals' work effort is interpreted according to the pre-classical English economists. In addition, we examine what these writers proposed as regards the formation of the desirable level of wages and what factors influence them to adopt specific views.

Date: 2014
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DOI: 10.1080/09672567.2012.683030

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