The Fallacy of the Lump of Labor: Adding to the Costs of Ageism
Contributing Organization(s): International Longevity Center-USA
Author(s)/Creator(s): Kenneth A. Knapp
Publishing Date: 2007-12-11
Issue Areas: Aging; Employment and Labor
Ownership/Rights Info: Copyright 2007 International Longevity Center-USA, Ltd. All rights reserved.
File info: 8 pages; 3 MB file size
The theory of the lump of labor has helped to perpetuate negative perceptions of older people. The theory rests on the notion that the economy has a fixed number of jobs available and that employment of one group -- in this case older people -- means unemployment of another group. However, among economists, the theory is widely acknowledged to be a fallacy, as it fixates blindly on the short run, and ignores long-run labor market adjustments. This report illustrates just how the lump of labor theory contributes to the total cost of age discrimination in America -- both monetary and nonmonetary.
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Intended Audience: General Public; Researchers
Type/Format: Whitepaper
Language code: English
Type/Format: Whitepaper
Language code: English
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