Trying to understanding Mark Blyth’s statement about Keynes I am reading a book called "Austerity, the history of a dangerous idea" written by Mark Blyth. While talking about Keynes, the author writes:  


  "he [Keynes] showed that although any worker can accept a wage cut to
  price himself into employment, if all workers did this, it would in the
  aggregate lower consumption and prices, and thus increase real wage
  (the wage-minus-price effect), leaving the worker who "adjusted"
  poorer and just as unemployed"


I don't understand real wage/price effect. If prices drop with wages, how is the employee becoming poorer? If I make less but it costs less, shouldn't I be able to buy the same amount? 

Thank you for your input!
Without context, it is unclear what Blyth meant. However, the usual argument runs as follows. The worker starts out with a certain nominal wage, and nominal debts. If wages and prices fall by some percentage, for current spending, the two changes cancel out - goods will cost the same percentage of weekly wages as before. However, the drop in prices does not reduce debt payments, and so those are larger relative to wages.