By Al Schumann on Saturday August 18, 2012 03:49 AM
For a special dose of irony, there is one person who, for real, bases economic decisions and policies on the Lump of Labor Fallacy: President Obama, who believes there is a fixed and finite amount of work, so any gains in productivity will necessarily reduce the number of employable workers.
Comments (9)
O'barry has a very interesting notion latent in his meme hive
Imagine "management " can't fire "hands" in "good times"
Comes a crisis like fall '08 and the hack off frenzy klaxon sounding
Lop offs commence en masse
Okay the trimming is over
Now recovery begins
Comes elastic lump
The same lump of heterogenious bought job hours that are the nrw pared down pile of desiderata can produce....well they can produce a huge range of outputs
So huge that effective demand management thru fiscal deficits can only induce more ouputand higher prices not more hired hours
The wage lubbers got it in 'm to produce as much as the market demands
And often at a falling unit cost !
As a stick figure scenarion
Not all that bad
So we have to go to a lower layer
Burst thru the elastic limit
Tis far but not forever
Up the deficit to. Warp drive speeds
The staff can not take it no more captian
Then comes the order thatchers pwog hearts everywhere
Hire mates hire at will
Posted by Op | August 18, 2012 8:29 AM
Posted on August 18, 2012 08:29
Lumps and limits everywhere
The mind field is well stocked with
"Can't do dats"
Fathers thinking one's self into a box stuff eh?
The real face card is of course the deficit rate to debt limit time frame
This is a beaut often noticed here
Even if o'barry cried flank sped deficit he'd start to quaver as the
Catastrophic debt accumulation projections started themselves accumulating in the media
Oh you of little poli Econ
Nowonder you escape all this into total rejectionism
The bastards can lustily reply
To a decent sort with a chorus of "it's impossible"
After ever remedy to throw at em
A chorus if " it's impossible "
That if not convincing at least seems to have no counter
That is ..........
Unless you hold ....
the keys to the next kingdom of man
Yes indeed
The keys brothers and sisters
The key
Now jangling in my pocket
Posted by Op | August 18, 2012 8:37 AM
Posted on August 18, 2012 08:37
When lump of labor and lump of leisure collide
Two rigidities contend
Job hours per job head are often designed with a lump of leisure constraint
As well as a lump of labor constraint
If you combine the two in the optimal mixture
There are likely to be lots of idled job heads and hands
That the two lumps can't accommodate
Then there's the lump of talents and lump of virtues
Its Lumps all the way down you see
Like culling the potential fatted calves for a limited priestly appetite*****
Not all calves are created or raised equal eh ?
Who'd serve a lemon calf to the priests of an Almighty God
--------------------
Ever wondered where the offered. fatted calves righteous remnants
ended up?
Beware priests fronting a God demanding beans as the sacrificial offering
Recall what ticked off Cain ?
Posted by Op | August 18, 2012 9:03 AM
Posted on August 18, 2012 09:03
Read
My cousin kettle Paine's
Theories of surplus offerings
Posted by Op | August 18, 2012 9:05 AM
Posted on August 18, 2012 09:05
This was worth the wait, thank you Owen and Al; both of the cat['n'dog]skills .... admirable and painful sort of balance.
Posted by diane | August 18, 2012 5:30 PM
Posted on August 18, 2012 17:30
With luck, Diane, and patience, we will harpoon the Lump.
Posted by Al Schumann | August 18, 2012 5:55 PM
Posted on August 18, 2012 17:55
and I believe, ..... so many times quiet ...just sensing, .... Queequeg, .... was said to be a Master Harpooner, ...... I think he might be ....
(I just love you both! ...)
Posted by diane | August 18, 2012 6:12 PM
Posted on August 18, 2012 18:12
I see the Sandwichman, sitting on a bench by the library. He's whittling a stick, looking at it, and then fiddling with a funny-looking piece of metal. Next thing I know, I'm on a ship and the New England coast is receding into the distance. I feel a tap on my shoulder. The stick is pressed into my hand. The funny-looking piece of metal extends from it and there's a vicious blade on the end. A kindly shove pushes me towards the prow...
Posted by Al Schumann | August 19, 2012 3:12 PM
Posted on August 19, 2012 15:12
I'm looking forward to his pop-up book, starring you and Owen .....(huge grin! Mr. Fury!)
Posted by diane | August 19, 2012 9:56 PM
Posted on August 19, 2012 21:56