At Left Foot Forward,<http://www.leftfootforward.org/2013/04/did-immigration-depress-the-wages-of-working-class-britons/> James Bloodworth wrote:
The first misunderstanding here is that the economy has a fixed number of jobs, sometimes known as the "lump of labour" fallacy. In reality, just as immigration may increase competition for jobs it can also create new jobs. Mr. Bloodworth is perhaps not aware that this fallacy claim is the dumbed-down version of Say's Law -- that supply creates its own demand -- which John Maynard Keynes criticized severely in his General Theory. Both Maurice Dobb and Arthur Cecil Pigou pointed out the *non*-fallacy of the alleged fallacy, under its Marshallian nickname, the "Work-fund fallacy." The fallacy claim, under various aliases, has been a staple of anti-labour polemics since at least 1780, when Dorning Rasbotham, Esq. pontificated that "a cheap market will always be full of customers." continued at: http://ecologicalheadstand.blogspot.com/2013/04/left-foot-forward-two-feet-rightward.html -- Cheers, Tom Walker (Sandwichman)
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