No, it’s simply that unemployment cannot persist in rational microeconomic models.
Ah, that makes sense (and seems obviously to have been your meaning in retrospect). Thanks!
Such models must include the assumption such as “all potential workers are able to provide a net positive value to an employer”.
No, it’s simply that unemployment cannot persist in rational microeconomic models.
Ah, that makes sense (and seems obviously to have been your meaning in retrospect). Thanks!
Such models must include the assumption such as “all potential workers are able to provide a net positive value to an employer”.