Wage
Awageismoneythat ispaidby anemployerto anemployeein exchange forwork.The amount may be fixed for each task completed (this is calledpiece rate); or it may be based ontimeor other measurablequantityof work done.
Work for wages is the most common form of work. Because of this, the term "wage" sometimes refers to all forms of employee payment. However, a wage is different to asalaryorcommission.A salary is where the employer pays an arranged amount at regular intervals (such as a week or month) regardless of hours worked or amount of work done. Commission is usually an extra payment based on the performance of the worker or product. Waged employees may also receive "tips"paid directly by clients. They will usually not get the same benefits as those paid with a salary, such asannual leaveandsick leave.
Wages are usually paid by thehour.This is called anhourly wage.Wages paid by the day are still common.[1][2]Wage rates may be influenced by market forces (supply and demand), laws, and tradition. Market forces are perhaps more dominant in theUnited States,while tradition,social structureandseniority,perhaps play a greater role inJapan.[3]In many countries, laws set aminimum wagethat all employers must pay their workers. This means that employers cannot pay workers a lower rate than the minimum wage; however, they can pay them a higher rate. The minimum wage rate is there to protect theworking class.[4]
Wages were paid in theMiddle Kingdomof Ancient Egypt,[5]Ancient Greece,[6]and Ancient Rome.[6]
References
[change|change source]- ↑Thompson, E. P. (1967). "Time, Work-Discipline, and Industrial Capitalism".Past and Present.38(38): 56–97.doi:10.1093/past/38.1.56.JSTOR649749.
- ↑Dohrn-van Rossum, Gerhard (1996).History of the hour: Clocks and modern temporal orders.Thomas Dunlap (trans.). Chicago: University of Chicago Press.ISBN9780226155104.
- ↑[1]– Education 2020 Homeschool console, Vocabulary Assignment, definition entry for "wage rate" (may require login to view)
- ↑Tennant, Michael. "Minimum Wage The Ups & Downs." New American (08856540) 30.12 (2014): 10-16. Academic Search Complete. Web. 26 Feb. 2015.
- ↑Ezzamel, Mahmoud (July 2004)."Work Organization in the Middle Kingdom, Ancient Egypt".Organization.11(4): 497–537.doi:10.1177/1350508404044060.ISSN1350-5084.S2CID143251928.Retrieved2014-02-13.
- ↑6.06.1Finley, Moses I. (1973).The ancient economy.Berkeley: University of California Press.ISBN9780520024366.
Other websites
[change|change source]
- "Wages and Working Conditions, by Stanley Lebergott: The Concise Encyclopedia of Economics | Library of Economics and Liberty".www.econlib.org.Retrieved2022-04-09.
- Salary and wages data collectionArchived2018-11-12 at theWayback Machine