Where wages are not regulated by law, all that we can…
““Where wages are not regulated by law, all that we can pretend to determine is, what are the most usual; and experience seems to show that law can never regulate them properly, though it has often pretended to do so.””
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
Unregulated wages become customary norms, but law struggles to control them effectively.
In simple terms: Law can’t fully control wages.
Key Takeaway
Recognize limits of regulation.
Themes
economics
law
labor markets
Mood
analytical
neutral
Type
economic
policy
When to use this quote
- salary negotiations
- minimum wage debates
- labor union strategies
- government legislation
Key Concepts
classical economics
public policy
Questions to Reflect On
- How do customs influence wage levels?
- What policies can better address wage fairness?
A Different Perspective
Regulation may need complementary measures.