Mises Daily
Author:
Bettina Bien Greaves
Online Publish Date:
[Originally published in the Freeman , May 1958, this article is included in Free Market Economics: A Basic Reader , edited by Bettina Bien Greaves.] It follows that an employer cannot pay more to an employee than the equivalent of the value the latter’s work, according to the judgment of the buying public , adds to the merchandise. (This is the