Mass unemployment ensures that there is always someone who will trade their labor for the lowest possible price so that they don't starve.
It's built into the system, less of a plague and more of necessary requisite for capitalism.
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.