Mass unemployment is one of the greatest plagues of a modern country. This is just one of the (many) sad side effects.
Too bad the lesson was forgotten globally by the ruling class.
Too bad the lesson was forgotten globally by the ruling class.
It's built into the system, less of a plague and more of necessary requisite for capitalism.
If you have labor shortage the economy cannot grow as fast as possible. If you have big surplus - then you have big demand slump that moves you to a deflation spiral.