Wages
Wages are the return to labor—the return to an individual's involvement (mental or physical) in the creation or realization of goods or services. Wages are realized by an individual supplier of labor even if the supplier is the self. A person gathering mushrooms in a national forest for the purpose of personal consumption is realizing wages in the form of mushrooms. A payer of wages is paying for a service performed by one or more individuals and sees wages as a cost.
Read more about this topic: Returns (economics)
Famous quotes containing the word wages:
“If the wages of sin are death, what else, I should like to know, is the wages of virtue?”
—Samuel Butler (1835–1902)
“The present war having so long cut off all communication with Great-Britain, we are not able to make a fair estimate of the state of science in that country. The spirit in which she wages war is the only sample before our eyes, and that does not seem the legitimate offspring either of science or of civilization.”
—Thomas Jefferson (1743–1826)
“When it comes to finances, remember that there are no withholding taxes on the wages of sin.”
—Mae West (1892–1980)