ABSTRACT
In a socialist society, wages are the monetary expression of the share of the social product obtained by each laborer according to the quantity and quality of his own labor. This is fundamentally different under the capitalist system where wages are the price of labor. Under the capitalist system, wages reflect the relationship between the exploiter and the exploited. The basic economic law of socialism suggests the general direction for formulating the wage plan. This is: the wage plan should guarantee continuous growth of the wages of the workers and staff on the basis of continuous growth of production and labor productivity. The size of the wage fund in the national economy depends on two factors, the number of workers and staff and the average wage. The wage fund of each sector also depends on these two factors. The piece-wage system can be divided into the individual piece system and the collective piece-system.
