…in those cases Where the demand for an article falls off rapidly as the price is increased, or in technical language, where the demand is elastic. The demand for salt…

…opponents of mechanization or advocates of short-time working, a reasoning they label as a misconception and which we know today under the label ‘lump of labor’ fallacy ‘. But the…

…powerless to affect the aggregate levels of spending and employment in the economy – they could only redirect resources from the private to the public sectors. This, of course, is…

…label of the “fixed work-fund fallacy” and then the “Theory of the lump of labour.” In denunciations of the lump-of-labor fallacy, it has become fashionable recently to appeal to the…