The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Subsistence and Subsistence Wages

  • Krishna Bharadwaj
Reference work entry
DOI: https://doi.org/10.1057/978-1-349-95189-5_1439

Abstract

In ancient economies where slave labour was the predominant form of labour, and for a long time after, when the material conditions of the labourer were not much better, the earnings of labour were viewed as not very different from the feed of horses. There were no ‘theories’ of wages but it was automatically supposed that they receive subsistence, certain fixed quantities of the necessaries of life. As working horses need to be maintained in adequate supply, the worker or the slave would be so provisioned as to be enabled to work and reproduce.

Keywords

Böhm-Bawerk, E. von Boisguillbert, P. Cantillon, R. Child, J. Circular flow Internal migration International migration Locke, J. Mandeville, B. Market wage Mercantilism Natural wage Necker, J. Net product Petty, W. Primitive accumulation Quesnay, F. Steuart, J. Subsistence Subsistence wages Turgot, A. R. J. Wage differentials Wages fund 

JEL Classifications

J3 
This is a preview of subscription content, log in to check access.

Bibliography

  1. Boisguilbert, P. 1707. Traité de la nature, culture, commerce et intérêt des grains. In Economistes et financiers du xviiiesiècle, ed. E.D. Daire. Paris: Guillaumin, 1851.Google Scholar
  2. Cantillon, R. 1755. Essai sur la nature du commerce en général. Traduit de l’anglais (Trans. H. Higgs, London: Macmillan, 1931). London: F. Gyles.Google Scholar
  3. Child, Sir J. 1690. A new discourse of trade. London.Google Scholar
  4. Locke, J. 1692. Some considerations of the consequences of the lowering of interest and raising the value of money. London.Google Scholar
  5. de Mandeville, B. 1714. Fable of the Bees or Knaves turned honest. Oxford: Clarendon Press, 1924.Google Scholar
  6. Mun, T. 1664. England’s treasure by foreign trade (Ed. W.J. Ashley). London: Macmillan, 1894.Google Scholar
  7. Necker, J. 1775. De la législation et du commerce des grains. Paris.Google Scholar
  8. Petty, W. 1691. Political anatomy of Ireland. Repr. In Economic writings of Sir William Petty, ed. C.H. Hull. Cambridge: Cambridge University Press, 1899.Google Scholar
  9. Ricardo, D. 1817. Principles of political economy and taxation. In The works and correspondence of David Ricardo, vol. 1, ed. P. Sraffa and M.H. Dobb. Cambridge: Cambridge University Press, 1951.Google Scholar
  10. Smith, A. 1776. An inquiry into the nature and causes of the wealth of nations (Ed. E. Cannan). New York: Modern Library, 1937.Google Scholar
  11. Steuart, Sir J. 1767. An inquiry into the principles of political economy. London: Oliver & Boyd.Google Scholar
  12. Temple, Sir W. 1673. An essay upon the advancement of trade in Ireland. London.Google Scholar
  13. Turgot, A.R.J. 1844. Observations sur le mémoire de M. Graslin. In Oeuvres de Turgot, ed. E. Daire and H. Dussard. Paris: Guillaumin.Google Scholar

Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Krishna Bharadwaj
    • 1
  1. 1.