3 ms·

Of course I have heard the contention that people are not able to buy things because their incomes are lower than they need to be. I'm saying that is a symptom,

Of course I have heard the contention that people are not able to buy things because their incomes are lower than they need to be. I'm saying that is a symptom, not a cause, of the current problems with our economy, and I have not seen it described credibly as a cause.

natrius 16y ago
"This strongly suggests that it’s a weak labor market for everyone out there, and businesses have no trouble finding the workers they need; they just don’t know what to do with those workers, given weak demand." http://krugman.blogs.nytimes.com/2010/09/20/structural-impediments/ http://krugman.blogs.nytimes.com/2010/09/20/structural-imped... People aren't buying things (presumably because they can't afford them), so businesses aren't hiring. Look at the graph. Businesses aren't concerned about "Interest Rates & Finance", which means they can get the money they need. They just don't have anyone to sell things to. I don't think my accusation that you weren't paying attention has any merit since this is the article I was thinking of at the time, and it's only three weeks old. I apologize. I think there were other things said along these lines, though.