Why economists dislike a lump of labor
AbstractThe lump-of-labor fallacy has been called one of the “best known fallacies in economics.” It is widely cited in disparagement of policies for reducing the standard hours of work, yet the authenticity of the fallacy claim is questionable, and explanations of it are inconsistent and contradictory. This article discusses recent occurrences of the fallacy claim and investigates anomalies in the claim and its history. S.J. Chapman's coherent and formerly highly regarded theory of the hours of labor is reviewed, and it is shown how that theory could lend credence to the job-creating potentiality of shorter working time policies. It concludes that substituting a dubious fallacy claim for an authentic economic theory may have obstructed fruitful dialogue about working time and the appropriate policies for regulating it.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Review of Social Economy.
Volume (Year): 65 (2007)
Issue (Month): 3 ()
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Blog mentionsAs found by EconAcademics.org, the blog aggregator for Economics research:
- Fawcett: "The Regulation of the Hours of Labour by the State" (abridged) IV
by Sandwichman in EconoSpeak on 2009-08-31 20:07:00
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- No Evidence that Business Week Economics Editor Knows What He is Talking About
by Sandwichman in EconoSpeak on 2009-07-09 15:56:00
- The Danger of Boilerplate
by Sandwichman in EconoSpeak on 2009-06-18 18:32:00
- Those Wacky Europeans!
by Sandwichman in EconoSpeak on 2009-05-08 00:03:00
- Bailouts and JAWBS
by Sandwichman in EconoSpeak on 2008-11-20 18:18:00
- Invitation to Ryan Avent for a Debate
by Sandwichman in ecological headstand on 2011-08-25 20:21:00
- What's Wrong with the Case AGAINST Shorter Work? VI
by Sandwichman in The Lump of Labor on 2011-12-16 00:50:00
- Megan McArdle: As the Lump Crumbles...
by Sandwichman in EconoSpeak on 2013-06-18 23:30:00
- Labour Markets: "A crazy explanation for what is happening to workers"
by Sandwichman in EconoSpeak on 2014-01-22 23:48:00
- Basic Econometrics: Robots Demand Shorter Hours!
by Sandwichman in EconoSpeak on 2014-01-29 22:52:00
- Tim Kane: "Overtime, rooted in the LOL fallacy"
by Sandwichman in EconoSpeak on 2014-03-20 05:27:00
- Whack-a-Mole Tim and the Fixed Amount of Cheese-Eating Work Fallacio
by Sandwichman in EconoSpeak on 2014-05-30 19:05:00
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