Theories of wages

Theories of wages:

There are numerous theories of wages. Some of the early theories of wages are:

1. The subsistence theory of wages;
2. The standard of living theory;
3. The wages fund theory;
4. The residual claimant theory

The significant recent theories of wages are:

1. The Marginal productivity theory of wages;
2. The Market theory of wages and
3. The Bargaining theory of wages.

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