Five theories of wages:

(1) Early wage theory: ① survival wage theory (put forward by Quesnay Dugel and comprehensively expounded by Adam Smith and david ricardo) (wage is the "natural price of labor", which includes not only the living expenses of workers themselves, but also the living expenses needed to continue future generations without increasing the overall number of workers);

② wage fund theory (the level depends on the ratio between the number of wage funds and the population)

(2) marginal productivity wage theory;

(3) the theory of balanced supply and demand wage (Marshall pointed out: wage is the price when labor supply and labor demand are balanced.

(4) wage negotiation theory (the wage level in the labor market depends on the strength comparison between employers and employees in the market).

(5) Wage sharing theory (Martin Weizmann: Employees' wages are no longer fixed according to working hours, but a system that links employees' wages with some indicators that can properly reflect the operation of enterprises. This is to link the interests of employees with the operating efficiency of enterprises.

Attachment: the concept of salary

The so-called salary refers to a certain amount of money paid by the employer as labor remuneration after the laborer completes the prescribed labor tasks.

Narrow sense: refers to monetary wages excluding welfare; Broad sense: the general term for various forms of labor remuneration (such as hourly wages, piece-rate wages, bonuses, allowances, subsidies and employee and personal benefits).

Broadly speaking, the labor income (including monetary income and non-monetary income) of non-employees (such as self-employed and farmers) also belongs to the category of wages.