1. Exquisite Tweets from @Noahpinion

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    Noahpinion

    Noah Smith šŸ‡

    Look, people. Diss Econ 101 all you want, but economists have been trying to tell you for DECADES about the Lump of Labor Fallacy.

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    Noahpinion

    Noah Smith šŸ‡

    NO, folks, there is NOT a fixed set of jobs out there that gets divvied up between people: en.wikipedia.org/wiki/Lump_of_lā€¦

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    Noahpinion

    Noah Smith šŸ‡

    If there were a fixed set of jobs to be divvied up, then population growth would have put half the damn country out of a job by now!!

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    Noahpinion

    Noah Smith šŸ‡

    See, when new people are born, or when they immigrate, businesses expand to employ more people. Or new companies are started. New jobs!!!

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    Noahpinion

    Noah Smith šŸ‡

    This is why most econ studies show immigrants don't raise unemployment for the native-born (or lower wages either): bloomberg.com/view/articles/ā€¦

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    Noahpinion

    Noah Smith šŸ‡

    This is one case where economists get it absolutely right. The popular myth of a fixed set of jobs is total bullshit. End of story. (end)

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    Noahpinion

    Noah Smith šŸ‡