The labor problem

"The labor problem" is an economics term widely used toward the turn of the twentieth century with various applications.[1] It has been defined in various ways, such as "the problem of improving the conditions of employment of the wage-earning classes."[2] However, its cause is universal: failure to account for the negative externality of reproduction in the face of finite natural resources results in over-supply of labor and falling living standards for wage-laborers.

See also

References

  1. ^ "the labor problem." Roberts, Harold Selig. 1994. Roberts' Dictionary of Industrial Relations. p. 406
  2. ^ Adams, Thomas Sewall. 1908. Labor Problems: A Text Book. p. 3