> On some level
The appropriate level would be regulation though? Like I just don't get how we can argue that arbitrarily throttling companies is ok.
The appropriate level would be regulation though? Like I just don't get how we can argue that arbitrarily throttling companies is ok.
So here we are, it's probably going to me messy and err on the side of over-bearing.
Current French (8.2%), Spanish (10.3%) or even Swedish (8.6%) unemployment would count as a disastrous recession in the US. In the US we call 2007-09 the "Great Recession", which peaked at 10.0%, and that relatively brief time left a generational mark. That's a somewhat routine number by EU standards.
Not to mention you end up with bizarre effects. If the UK were admitted as the 51st state it'd immediately be the poorest. (Yes, some EU countries are wealthy, but they're also the size of US counties, if we cherry pick just Manhattan we could make some spectacular comparisons too)
So, it's a complex issue but the tradeoffs are absolutely tangible yet often dismissed.
This obviously doesn't tell the whole story, because it only measures people actively in the workforce. Meanwhile, a far larger portion of Sweden's population is actually employed compared to the US.
Sweden's laborforce participation rate is 76% and in the US it is 62%. Sweden's employment rate is 69% and US's is 59%. Which statistics are more important?
Edit: had wrong employment rate