PEN-L
mailing list archive

Other Periods  | Other mailing lists  | Search  ]

Date:  [ Previous  | Next  ]      Thread:  [ Previous  | Next  ]      Index:  [ Author  | Date  | Thread  ]

Question about Say's Law



Here's an odd thought. Tuesday I went to a public forum on immigration and labour. The big issue, apparently -- especially for the speakers from the business associations -- was the looming shortage of skilled workers.

Well hold on a minute, here, Chester. Doesn't the classic comix version of Say's Law claim that "supply creates its own demand"? Can somebody please, please explain to me why this would apply only to an INCREASE in labour supply and not to a DECREASE in labour supply? Now I'm not saying I subscribe to that interpretation of Say's Law but the business folks avowedly do. Or are the business folks committing a "lump-of-laborers fallacy"?

--
Sandwichman

Other Periods  | Other mailing lists  | Search  ]