THE LUMP OF LABOR FALLACY. Daniel Drezner spots it in a recent Chicago Tribune series, and applies the proper correctives.

UPDATE: Instapundit simply mentions economics and Paul Krugman. Virginia Postrel appears to be reading too much into that mention. Never mind the quest for hidden meanings and innuendo: read and understand the article. There will be a quiz on the lump of labor fallacy later.

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