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buybuydandavis comments on A Keynesian key insight - Less Wrong Discussion

6 Post author: Stuart_Armstrong 19 June 2013 02:05PM

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Comment author: buybuydandavis 27 June 2013 02:25:56AM 0 points [-]

"Would be offered" in what counterfactual universe?

Comment author: Stuart_Armstrong 27 June 2013 11:52:37AM 0 points [-]

Without counterfactuals: assume Mr X is willing to do job Y at wage Z, and has as much skills as Mr A. Then if Mr A has job Y at wages above Z, and Mr X is unemployed, we do not have full employment.