It&#x27;s not very hard to tell a &quot;supply side&quot; story where employment and wages fall at all. Just repeat your supply &amp; demand example but substitute a specific good for aggregate demand. Or assume a decrease in the demand for labor due to automation, a reduction in labor hoarding, better ability to sort employees by productivity, etc.<p>Also, Varoufakis is criticizing &quot;macroeconomic models taught at the best universities&quot;. Keynesian economics has been taught at universities for nearly 100 years.