Doc Merlin is among those linking to a New York Times story about manufacturers having difficulty finding skilled workers. I would love to say that I find that the story validates my views macroeconomics. Instead, I just find the story…odd.
Along similar lines, Calculated Risk points to the large numbers of long-term unemployed. Again, it might support my Recalculation Story, but it is no smoking gun.
In my latest installment, I probably should have said more about real wages in a recession. If we had to resettle a flood of refugees, then, all else equal, we probably could get more of them employed faster at lower real wages than at higher real wages. But I would not put real wages at the center of the problem.
Mario Rizzo comments on what Keynes and Hayek were arguing about in 1932, which sounds quite current.
Comments are closed.