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Automation and the Minimum Wage
The November 2021 issue of Page One EconomicsĀ® explains how a higher mandated wage may lead some firms to substitute capital for labor.
Examining the "Lump of Labor" Fallacy Using a Simple Economic Model (Page One Economics)
The lump of labor fallacy holds that there is a fixed amount of work to be done, which determines the number of jobs in an economy. If this were true, new jobs could not be generated, just reallocated.