...the chapter "On Wages." He begins by defining the "natural price" of labor as that price which will "enable the labourers, one with another, to subsist...perpetuate their race, without either increase or diminution."19 It is a price (we are immediately informed) that is not fixed in terms of "money" but...

...working of Ricardo's model. That is to say, it is that wage which sets population growth equal to zero: "that price which is necessary to enable the labourers, one with another, to subsist and to perpetuate their race, without either increase or diminution" ( Sraffa, 1, 93). It is not, I will...

...have seen, Ricardo defines the natural price of labour, in relation to the size of population, as the price which 'is necessary to enable the labourers, one with another, to persist and to perpetuate their race, without either increase or diminution' (Ricardo, 195 la (1817),...

...The three propositions quoted here in turn from Capital follow one another directly in the text. 4. "The natural price of labour is that price which is...enable the labourers, one with another, to subsist and to perpetuate their race"; see above p. 40. Appendix 2 RICARDO AND THE SO-CALLED "IRON LAW OF WAGES"...

...answer was formulated most clearly by its last significant representative, David Ricardo, as follows: the natural price of labour is that price which is...their race, without either increase or diminution. (Ricardo, 1971: 115 [1821]; my italics) Here the definition of the necessary derives from the capitalist's...

...international trade is the quasi-rent imputed to the given supply of labor. This is quite un-Ricardian: The natural price of labour is that price which is...enable the labourers, one with another, to subsist and to perpetuate their race, without either increase or diminution. The power of the labourer to support...

...the masses— limitation of supply by birth control and trade unions— still belonged to the future. The natural price of labour is that price which is...enable the labourers, one with another, to subsist and to perpetuate their race. . . . [BJy the encouragement which high wages give to the inerease of population,...

...employing capital in production rather than consumption. Ricardo's definitions were, wm ([135], p. 52): "The natural price of labour is that price which is...enable the labourers, one with another, to subsist and to perpetuate their race, without either increase or diminution"; rm ([135], p. 73): "The minimum profit...

...necessaries and conveniences required for the support of the labourer and his family; or that quantity which is necessary to enable the labourers one with another, to subsist and to perpetuate their race without either increase or diminution. Skilled labor is the laborer's knowledge,...

...fheory (iron wage law) Wages are the reward for labour. Ricardo states his iron wage law as follows: The natural price of labour is that price which is...enable the labourers, one with another, to subsist and to perpetuate their race, without either increase or diminution. A short summary of Ricardo's wage...