Don't understand it and get very angry when the concept is explained. Applies to more than just housing and causes all kinds of problems.https://twitter.com/micsolana/status/1357199057618235396 …
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Replying to @TweetWivMe
That one is one where simple supply / demand doesn't give the answer because labor markets are more complex since the output of labor is a good that's being sold rather than consumed. More labor doesn't lower wages unless it's the extremely rare pure unskilled labor.
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Replying to @CovfefeAnon @TweetWivMe
This doesn't mean that immigration won't lower wages in sectors, btw.
2:21 PM - 4 Feb 2021
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," but what i'm starting to realize is... ok wait, i actually think many people genuinely don't understand supply and demand