The theoretical microeconomics view is the one that claims:
After all, if there is unemployment, wages should fall, making it more attractive to hire workers. Therefore the equilibrium should be that everyone who wanted to work at the wages available should work. And this is not only an equilibrium, but an attractor: free-floating wages should move the economy towards the equilibrium.
Asking from ignorance here—how does the second point follow from the first? Does theoretical microeconomics require irrationality?
The theoretical microeconomics view is the one that claims:
Ah, thanks!
No, it’s simply that unemployment cannot persist in rational microeconomic models.
Ah, that makes sense (and seems obviously to have been your meaning in retrospect). Thanks!
Such models must include the assumption such as “all potential workers are able to provide a net positive value to an employer”.