Most people who are reading this article are university students. Many of you have the intention of graduating in economics and commerce, and then planning to go on to secure a fulfilling career. I dare say that the students associated with ESSA are perhaps the more diligent amongst students; ambitious
While reading fellow ESSA contributor Joey Moloney’s article I came across the under-consumption paradox. This was something that I had grappled with before in trying to reconcile the microeconomic lessons about price floors and the minimum wage with macroeconomic lessons about aggregate income and expenditure and the Keynesian Cross.