Wages and the Marginal Product of Labor


Bastiat, Frederic, Economic Harmonies, Chapter 14

    Surprisingly early description of wages as providing insurance as compared to the risky returns of business owners, who, as residual income claimants, guarantee the employees a consistent wage in exchange for the owners' shouldering the risks. See also Brief Review of this book.

Bastable, Charles F., Public Finance

Clark, John Bates, The Distribution of Wealth. The definitive classic on the marginal product of labor.

Newcomb, Simon, The A B C of Finance. The effects of inflation on wage contracts.

Wicksteed, Philip H., The Common Sense of Political Economy. In particular, Book I, Chapters 5,8,9, and Book II, Chapters 5-6.