- An economic tautology says that all market fluctuations are explained by some combination of preferences, technologies, and market distortions.
- A recession is defined (by NBER) to be a reduction in the quantity of employment.
- It is political incorrect to blame a significant part of recession on a reduced preference for working.
From these three, basic logic implies that either (a) the preference for working never falls, or (b) that it falls only at times when it is fully compensated by demand increases (that it, it only falls during non-recessions).
(b) seems like a remarkable coincidence, so we must conclude that the preference for working never falls.
Moreover, given that the preference for working never falls, the same logic implies that the preference for working never increases, or else (after 1000s of years of the human race) all we would do is work.
Political correctness makes labor market analysis easy -- we only have to study demand and distortions; supply can (and must) be ignored!
I really should stop fighting the utter neglect of supply, and instead appreciate its productive value.