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At its simplest, monetarist theory postulates that in the economy there is a fixed amount of money, which circulates at a given velocity.
IN ONE of his short stories, "The Quantity Theory of Insanity", Will Self suggests that there is a fixed amount of craziness in the world.
The 35-hour-week rules were based on the misapprehension that there is a fixed amount of work to be shared out.
It's the idea that there is a fixed amount of work to be done in the world, so any increase in the amount each worker can produce reduces the number of available jobs.
The range of tasks that can be outsourced and offshored is constantly expanding.The notion that trade kills jobs is based on the false premise that there is a fixed amount of work to do.
McAfee noted in our interview that some critics have accused him and Brynjolfsson of accepting the "lump of labor fallacy" (the idea that there is a fixed amount of work available) in defiance of economic history.
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"Maybe it's because Manhattan is an island, and from Minute 1 there has always been a fixed amount of space.
Mainstream economists would say these ideas fall foul of the "lump of labour" fallacy: the idea that there's a fixed amount of work in an economy, which we can just share out between us.
Brod clearly believes that there's a fixed amount of musicality available to any given individual, and that since Kafka's prose "bears all the characteristics of good music in its rhythm and dynamic", there's nothing "left for the world of musical sounds".
"There's a fixed amount of money (from the state) for every student," says Professor Vlachos.
At the start of the game, each player is given a fixed amount of play money; the players then move around the board according to the throw of a pair of dice.
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