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Wages fund

   Also found in: Encyclopedia 0.01 sec.
(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



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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.
California, for example, has an Industrial Relations Unpaid Wages Fund under which monies recovered for wages are deposited until workers come forward to claim their wages.
The mother-of-two ( now beginning a 12-month jail sentence ( started siphoning cash from the company's wages fund straight into her bank account.
 
 
 
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