Old Lumps Never Die... They Just Fly!
Sometimes I stumble across recitations of the lump of labor catechism that I missed at the time. Here's one that's untimeliness has become timely by the juxtaposition of the 2003 Bloomberg column to an advertisement for a current Bloomberg feature: "Lump-of-Labour Fallacy Gussied Up for a New Era" and "Flying Robots"! Ms. Baum bills herself on twitter as "a Bloomberg View columnist, writing about the macro-economy and the intersection beween [sic] politics and economics. My specialty is exposing economic nonsense." The unintentional ambiguity of the last claim is refreshingly frank. So I wrote to Madam Baum (and her editor): Dear Caroline Baum, Your twitter profile says that you write about the "intersection beween politics and economics." Obviously that should read "between." But that's not why I'm writing. Your profile also states that your "specialty is exposing economic nonsense." Way back in 2003 you...
