Just-wage theory tells us that an employer cannot&nbsp;reduce his workers' wages&nbsp;below some presumed "cost of living." Yet, that same employer&nbsp;can&nbsp;be permitted to reduce the worker's wage&nbsp;to zero&nbsp;if the worker has been replaced by a machine.&nbsp;

Original Article: <a href="https://mises.org/wire/why-just-wage-theory-doesnt-make-much-sense" target="_blank">Why the "Just Wage" Theory Doesn't Make Much Sense</a>

Just-wage theory tells us that an employer cannot reduce his workers' wages below some presumed "cost of living." Yet, that same employer can be permitted to reduce the worker's wage to zero if the worker has been replaced by a machine.{ai:summary}Just-wage theory says an employer can't lower wages below cost of living, but can reduce wages to zero if replaced by a machine. #economy

Why the "Just Wage" Theory Doesn't Make Much Sense

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