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"The fight is never about grapes or lettuce. It is always about people." Cesar Chavez |
:: Wednesday, October 08, 2003 ::
Lumps of Labor By PAUL KRUGMAN
Economists call it the "lump of labor fallacy." It's the idea that there is a fixed amount of work to be done in the world, so any increase in the amount each worker can produce reduces the number of available jobs. (A famous example: those dire warnings in the 1950's that automation would lead to mass unemployment.) As the derisive name suggests, it's an idea economists view with contempt, yet the fallacy makes a comeback whenever the economy is sluggish.------------------------------------------- posted 7:16 AM :: reference link ::
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