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iron law of wages: Meaning and Definition of

i'ron law' of wag'es

Pronunciation: [key]
— Econ. Econ.
  1. the doctrine or theory that wages tend toward a level sufficient only to maintain a subsistence standard of living. Also called
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.
iron-jawed iron lung
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