Definition of Wages
Wa´ges
Pronunciation:
wā´jĕz
n.
1.
A
compensation
given
to
a
hired
person
for
services
;
price
paid
for
labor
;
recompense
;
hire
.
See
Wage
,
n
.
,
2
.
The
wages
of
sin
is
death
.
- Rom. vi. 23.
2.
(Economics)
The
share
of
the
annual
product
or
national
dividend
which
goes
as
a
reward
to
labor
,
as
distinct
from
the
remuneration
received
by
capital
in
its
various
forms
.
This
economic
or
technical
sense
of
the
word
wages
is
broader
than
the
current
sense
,
and
includes
not
only
amounts
actually
paid
to
laborers
,
but
the
remuneration
obtained
by
those
who
sell
the
products
of
their
own
work
,
and
the
wages of superintendence
or
management
,
which
are
earned
by
skill
in
directing
the
work
of
others
.
Wages fund
(Polit. Econ.)
the
aggregate
capital
existing
at
any
time
in
any
country
,
which
theoretically
is
unconditionally
destined
to
be
paid
out
in
wages
.
It
was
formerly
held
,
by
Mill
and
other
political
economists
,
that
the
average
rate
of
wages
in
any
country
at
any
time
depended
upon
the
relation
of
the
wages
fund
to
the
number
of
laborers
.
This
theory
has
been
greatly
modified
by
the
discovery
of
other
conditions
affecting
wages
,
which
it
does
not
take
into
account
.
- Encyc. Brit.
Related Words
aftermath
,
consequence
,
payoff
,
reward
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