Speaking anecdotally, but also observing crowd sentiments on social media, I agree with this article on the point that overproduction can lead to instability. I

Speaking anecdotally, but also observing crowd sentiments on social media, I agree with this article on the point that overproduction can lead to instability. It is very easy for people to blame anything but themselves for their circumstances. My friends who pursued degrees in overproduced fields (PhDs but also bachelors, masters) tend to automatically blame the system. They expect to be able to live in major city centers (which are highly desirable and expensive), doing the job their degree maps to, with a high quality of life, and access to luxuries. But the reality is that most of them are “lapsed” and doing other kinds of jobs, and aren’t earning the amounts they once dreamed of. That has left them bitter and they blame political parties, American values, the Constitution, … it doesn’t matter - emotionally, they are very willing to throw it all away. I’m no historical expert, but I get the sense that if even just 5% of the population harbors such sentiments, it would result in unmanageable unrest and societal collapse.