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Jonathan Newman
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I teach economics.
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Why additions to cash balances cannot be categorized as consumption or saving/investment. 🧵 We only say a burrito is a consumption good because that is the way it is virtually always used. We say a forklift is a producer's good for the same reason.
by Jonathan Newman
Look at this diagram for sticky wages by MRU (Cowen and Tabarrok). It clearly shows a mismatch between Qs and Qd in a labor market. Pay close attention to the causes of sticky wages as explained by Tabarrok: twitter.com/NewmanJ_R/status/162778650686
by Jonathan Newman
