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cousin_it comments on Unemployment explanations - LessWrong
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Okay, I'm confused. Why does Stuart say in the original post that a clearing labor market would give everyone a job?
You have to ask him. Note that a single labor market is an abstraction -- in reality there are lots and lots of little labor markets. If you treat each job (and each job-seeker) as its own labor market, then all these nanomarkets clearing would represent everyone getting a job -- but that's a rather silly way to look at things.
Yeah, that seems silly. That's like treating every object on sale as its own little market.
Or the market would fail to exist when someone is unwilling to buy or sell at the price necessary for the exchange to go through. It's not a market without a buyer and a seller, so all markets would clear here because the markets that wouldn't would never be realized.