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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 :: 0 comments ::
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