in Which Tyler Cowen Calls, I Think Wrongly, for Deflation

Tyler:

Marginal Revolution: What's the actual problem in the labor market?: Yet I have seen not one such post to the unemployed: "Hey guys, lower your wage demands!  It's good for you!  You'll get a job and avoid the soul-sucking ravages of idleness.  It's good for the country!  It's good for Bernanke, you'll get those regional Fed presidents off his back!  Why not?  The best you can hope for is to get tricked by money illusion anyway!  Show up those elites and get to that equilibrium on...