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wage-fund doctrine

noun

Definitions

  1. The theory that there is at any given time in a country a determinate amount of capital…

    The theory that there is at any given time in a country a determinate amount of capital available for the payment of labour, therefore the average wage depends on the proportion of this fund to the number of persons who have to share in it.

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sense glosses and etymology drawn from English Wiktionary · source · CC-BY-SA