Economy Of High Wages

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Definition: Economy Of High Wages


Economy Of High Wages


Full Definition of Economy Of High Wages


The economy of high wages is the concept that higher wages will directly lead to higher productivity.

The theory suggests that wages are positively associated with the marginal product or productivity of the worker.

The theory should be subject to the law of diminishing returns. When the salary of a low wage earner is increased, they should be able to improve their nutrition levels, gain additional education and training, and experience higher confidence levels.

Read: “The Economy of High Wages” by Thomas Francis Bayard.


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Definition Sources


Definitions for Economy Of High Wages are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 29th March, 2020 | 0 Views.