Equilibrium switch

The recession, obviously, is not a good thing. But I think it might be a good thing if when we pull out of it, we switch to a different equilibrium in which people work somewhat less and earn somewhat less. There’s a lot of evidence to suggest it would make people happier, and some good reason to think it would be better for the environment.

–Matthew Yglesias

Tagged as: recession, work

Categorised in: Elsewhere, Quotations