Unemployment is more efficient. It's not a choice between 20% unemployment and giving everyone 4 day work-weeks (20% work cut), it's a choice between 20% unemp

Unemployment is more efficient. It's not a choice between 20% unemployment and giving everyone 4 day work-weeks (20% work cut), it's a choice between 20% unemployment and 4.5 day work-weeks. Training, communication, organization, and a dozen other things are per-worker costs which incentivize employing fewer people full-time. The only exceptions are regulatory distortions that incentivize part-time labor to avoid paying benefits. And those jobs only exist at the bottom of the pay scale (where flat healthcare costs dominate scaling efficiency costs), which is where full-time work is required to survive. It's not just foolishness, the current system is more efficient while being more devastating. We can absolutely do better, but it's going to take a serious realignment.