[DOWNLOAD] "Just Prices and Fair Wages: An Ancient Idea Compared with a Modern One." by Indian Journal of Economics and Business ~ Book PDF Kindle ePub Free

eBook details

Title: Just Prices and Fair Wages: An Ancient Idea Compared with a Modern One.
Author : Indian Journal of Economics and Business
Release Date : January 01, 2006
Genre: Business & Personal Finance,Books,
Pages : * pages
Size : 289 KB

Description

Abstract The moral idea of just prices has a tradition that stretches back over two millennia. By contrast, the distinctively modern idea of fair wages has emerged and evolved only in the last couple of centuries. Until then, the specific idea of fair wages was not considered apart from the general idea of just prices. Fair wages were regarded as nothing more than the just prices paid for labor, and no special thought was given to the pricing of labor that distinguished it morally from the pricing of things in sales generally. The new understanding of a fair wage is that it is a "living" or "family" wage. The new idea of a fair wage regards justice in the pricing of labor differently than justice in the pricing of anything else. In contrast, the older idea of a just wage would advance the same analysis of fairness in wages as apply to the pricing of anything else. Both of these two rival versions of wage justice are powerfully appealing in their own right, but they seem flatly contradictory and utterly irreconcilable. This paper discusses the theoretical and practical difficulty of reconciling the new idea of wage justice with the traditional understanding of wage pricing from a historical perspective.