…output’ fallacy. You must always have a theory of how output is determined and you must never say, ‘Higher output per worker reduces employment, because it reduces the employment needed…

…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…

…at $82.44 a barrel, after data showed US industrial production unexpectedly fell 1.3% in September, the most in seven months, implying that industrial demand for energy would be weaker than expected ….

…of real output. Crowding out was a new label for what Keynes had referred to as the Treasury View, which Winston Churchill elaborated in 1929: The orthodox Treasury view, and…

…capital. What it does not contain is a chapter on how to run a railway network, set agricultural output targets, or adjudicate between competing industrial priorities.” *snip* “Marx himself acknowledged…