Ryan Avent takes on the secstags

Here.
I summarize.  The secstags are a failure of labor to keep up with technology.

Mark Bils, Yongsung Chang, and Sun-Bin Kim find that sticky wages push firms to wring more output from existing employees when confronted by a decline in demand. Productivity therefore rises during recessions—rising most in industries where wage rigidity is most binding—reducing the incentive to take on new workers despite relative wage flexibility among the unemployed.

Says Ryan.But where to the recessions come from? Government, they happen on presidential election cycles. Why does government play a substantial role in causing this problem? Mainly because the US government suffers severe over aggregation. Government grants monopolies on over the wide economy while hiding the volatility from labor. The data will bear me out. Mankiw misses this because he believes undemocratic government should  support monopoly producers. Larry Summers misses this because he teaches government fraud at the Harvard School of Government Fraud.Krugman misses this because he thinks government should hide volatility from labor. DeLong and Reich miss this because they teach at the UC Berkeley School of Government Fraud. Prescott misses this because of a statistical mistake.  Kling misses this because he he thinks disequilibrium is an unbound quantity. The Austrians miss this because they do not know how to compute roundaboutness. Monetarists miss this because they do not use a stock and flow model. Keynes makes the same statistical mistake that the RBC folks make.