lump of labor fallacy

What did Kurt Vonnegut, the novelist, and François Mitterand, the socialist president of France from 1981 to 1995, have in common with Donald Trump? Both, at some point, believed in what economists call the . This is the view that there is a fixed amount of work to be done and that if someone or something — some group of workers or some kind of machine — is doing some of that work, that means fewer jobs for everyone else.

And Trump clearly shares that belief. As I noted in my most recent column , it underlies his hostility to […]

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