Concept
Lump of Labor Fallacy
The mistaken belief that there is a fixed amount of work in an economy, so that automating existing jobs necessarily produces permanent unemployment rather than freeing capacity for new kinds of work to emerge.
Lump of Labor Fallacy
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… I think the kind of the the other answer is you know it's back to the lump of labor fallacy and you know the last 200 years that you know each of these technologies removes a bunch of jobs, creates a bunch of new jobs, creates a bunch of…
Concept
Lump of Labor Fallacy
The mistaken belief that there is a fixed amount of work in an economy, so that automating existing jobs necessarily produces permanent unemployment rather than freeing capacity for new kinds of work to emerge.
Related Concepts1
Related Practices4
Ask about this concept
Transcript mentions
… I think the kind of the the other answer is you know it's back to the lump of labor fallacy and you know the last 200 years that you know each of these technologies removes a bunch of jobs, creates a bunch of new jobs, creates a bunch of…