Oh my. Econonmists >... a solid microeconomic foundation. ...more profitable and thus expand, leading to a hiring spree. Technology might also allow firms to

Oh my. Econonmists >... a solid microeconomic foundation. ...more profitable and thus expand, leading to a hiring spree. Technology might also allow firms to move into new areas, or to focus on products and services that are more labour-intensive. In my time spent studying economics, this is the sort of thing that micro-economists say all the time and it is not true. The untrue bit is "solid foundation". It is post hock story told to give a quasi theoretical basis for an observation. The article, bless them, acknowledges separating causation and correlation is tricky. Solid foundation, pfft!