Ah, c'mon, don't pin it on The Bearded Guy! That stuff predated him (see Ricardo's Law of Rent: https://en.wikipedia.org/wiki/Law_of_rent https://en.wikipedia.

Ah, c'mon, don't pin it on The Bearded Guy! That stuff predated him (see Ricardo's Law of Rent: https://en.wikipedia.org/wiki/Law_of_rent https://en.wikipedia.org/wiki/Law_of_rent). The Bearded Guy was after all the last of the Classical Economists :) He also didn't think wages would make it to subsistence: https://en.wikipedia.org/wiki/Iron_law_of_wages#Socialist_criticism https://en.wikipedia.org/wiki/Iron_law_of_wages#Socialist_cr...