Whenever The Economist, or the New York Times, or most any mainstream paper discusses the proposals in France and Germany to fight unemployment by lowering the workweek, they dismiss the idea out of hand as delusory. It can't possibly lead to lower unemployment they say; it's simply another instance of the "lump of labor" fallacy.
And yet smart minds in countries with strong unions persist. So I wonder -- is there something to the idea that reducing the work week can reduce unemployment? And if there is, what is the flaw in this lump of labor fallacy? (Well, to be honest, what is the lump of labor fallacy? Is it more complicated than it sounds?) Any suggestions or reading recommendations greatly appreciated.
Michael
__________________________________________________________________________ Michael Pollak................New York City..............mpollak at panix.com
Clinton reminds me of the water stain on the ceiling above my shower. Every morning I ask myself how much it's really bothering me, then I decide to leave it there for another four years. -- Scott Adams __________________________________________________________________________