My Advice for the Unemployed
Non-ironically outsourced to Tyler Cowen:
Hey guys, lower your wage demands! It’s good for you! You’ll get a
job and avoid the soul-sucking ravages of idleness. It’s good for the
country! It’s good for Bernanke, you’ll get those regional Fed
presidents off his back! Why not? The best you can hope for is to get
tricked by money illusion anyway! Show up those elites and get to that
equilibrium on your own! Take control!
It’s the same thing I’ll be saying more pedantically during Weeks 3 and 4 of my labor econ class.