In his academic lectures, Pantaleoni asked students: “what wage can the entrepreneur give to the worker?” He answered: “as much as he is worth. He certainly cannot pay him more than what he is worth, and by competition, he will not be able to pay him less . . . the rule that labour is paid how much it is worth [tanto quanto vale], nothing more nothing less, holds" (Pantaleoni 1910, 204).

Clara E. Mattei, The Capital Order, loc. 1255