 | Henry Dunning Macleod - Economics - 1886 - 402 pages
...will rise ; with a fall in their price the natural price of labour will fall.'—' The market price of labour is the price which is really paid for it,...labour is dear when it is scarce, and cheap when it is plentiful. However much the market price of labour may deviate from its natural standard, it has, like... | |
 | Charles Hilliard Feinstein, Maurice Dobb - Capitalism - 1967 - 398 pages
...scarcity of labour, and (4) gives the 'supply price 'of labour. It represents Ricardo's expression : 'Labour is dear when it is scarce and cheap when it is plentiful.' (Principles, Chapter V.) In the longer run labour supply is influenced by population growth,... | |
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The market price of labour is the price which is really paid for it, from the natural operation of the proportion of the supply to the demand; labour is dear when it is scarce and cheap when it is plentiful. However much the market price of labour may... 
