[PEN-L:2564] Re: Re: Economic's "narrow focus"

[Brad De Long <delong@xxxxxxxxxxxxxxxxx>]

>Brad DeLong wrote,
>>
>>Samuelson and Nordhaus's "lump of labor" fallacy is the Classical doctrine
>>that fiscal and monetary policy cannot affect the total amount of
>>employment--that the number of hours worked is fixed, unchangeable,
>>unresponsive to government policies.
>
>Ah, now we're getting somewhere. Wouldn't that Classical doctrine be what is
>known as the wages-fund doctrine, Brad?
>
>
>
>Tom Walker

Yep. But it remains alive, a standard move in the rhetoric of reaction to
use against demands that the government do something to make the economy
behave better...

Brad Delong

Professor J. Bradford De Long
Department of Economics, #3880
University of California at Berkeley
Berkeley, CA 94720-3880
(510) 643-4027; (925) 283-2709 voice
(510) 642-6615; (925) 283-3897 fax
http://econ161.berkeley.edu/