>Why does Economics 101 go out the window when it comes to labor supply and demand? Rising prices increase supply until supply and demand reach equilibrium.

why does Dynamic Systems 101 goes out of the window when it comes to proponents of supply/demand economics? Positive feedback in a system - like rising prices increase supply - is not necessarily leads the system to equilibrium, in many cases it is a recipe for the system to swing even more widely out of equilibrium. What do they teach these days in colleges?!