One of the most frequently derided fallacies in economics is the idea that there is a limited amount of work that can be done. This implicit assumption, known to economists as the lump-of-labor fallacy, fosters "the illusion that shorter hours will reduce unemployment." Curiously, though, in spite of perennial reference to the fallacy, there have been few attempts at articulating a counter-lump-of-labor job creation strategy. If it is an illusion that shorter hours or early retirement can reduce unemployment, why not create jobs by extending the workweek and prolonging working life?
continued at: http://ecologicalheadstand.blogspot.com/2011/04/thinking-along-right-lines-creating.html -- Sandwichman
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