This is such a spot-on observation/consideration by Krugman:
What about being able to find work? Suppose you have an expensively acquired degree, and the only jobs out there are part-time gigs at minimum wage. You might not take those jobs; in that case, is it really true that you can’t find work? Alternatively, you might indeed take such a job; is it really right in that case to say that you did find work?
