Wages fund

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(Polit. Econ.) the aggregate capital existing at any time in any country, which theoretically is unconditionally destined to be paid out in wages. It was formerly held, by Mill and other political economists, that the average rate of wages in any country at any time depended upon the relation of the wages fund to the number of laborers. This theory has been greatly modified by the discovery of other conditions affecting wages, which it does not take into account.
- Encyc. Brit.

See also: Wages

References in periodicals archive ?
Queenslands first dedicated Reparations Review Panel has had its inaugural meeting and stands ready to help Aboriginal and Torres Strait Islander people without formal documentation access the Palaszczuk Governments $21 million stolen wages fund by accepting their oral history as evidence.
We don't have a wages fund and the difference in payments is met through different schemes that we are regularly introducing," he said.
Principally concerned with the protection of the wages fund in Ireland, he emerges from this study as neither enlightened nor imaginative.
Savisaar maintains that "In 2009, for example, only 2 percent of the monthly wages fund is provided for additional payments.
358, 361 (1946) (explaining wages fund FICA); Treas.
Harriers' wages fund has been increased with the savings from Blake's retirement and Joy's departure to America.
On top of a 32% increase in the wages fund this year, a system of bonuses is being introduced.
If the poor were thrown off the relief rolls, they would have to become more efficient workers (and employers would use their labour more productively) thus increasing the wealth, and the wages fund of the nation.
It said then that the repayment agreements between Sniace and the wages fund Fogasa and the rescheduling agreement between Sniace and the Social Security Treasury contained incompatible aid, in so far as the rate of interest was below market rates.
This book on the wages fund - one of the key theoretical underpinnings of classical economics - and the "reasons" for Mill's ostensible "recantation of it" is only one of the most recent in the genre.