Wage Rates as Affected by the Vicissitudes of the Market

Tags: Philosophy and Methodology, Production Theory, Value and Exchange

08/13/2010

It is good luck for the laborer if market conditions are such that a kind of work he is able to perform is lavishly remunerated; it is chance, not personal merit, if his innate talents are highly appreciated by his fellow men, writes Ludwig von Mises (1881–1973).

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