The Lump of Labor Fallacy

Economists actually have a term for what the musicians were thinking, at least as it relates to big economic questions. The lump of labor fallacy is the notion that there's a kind of a finite amount of work to do and so if more work is done by machines, or potentially by immigrants, then we will run out of work at home. This is david otter a professor of economics at m i t,. Speaking to planet moneys, jacob goldstein and otter said, look, here's why this i a fallacy. It's like we are just going to keep coming up with new jobs that we could not have imagined would exist. So there's no evidence to