unemployment, or lack of spending power due to underemployment?
I think you misunderstood. You are describing negative societal value. Long-term unemployment can ruin not only your life but the lives of your family members.
Econ 201's solution is to punt on the issue and start doing calculus, because the economics orthodoxy was developed by heartless market neoliberals and computer scientists, and they can't really rationalize it in human terms. You literally have to go to grad school to un-learn all this shit.
I think you misunderstood. You are describing negative societal value. Long-term unemployment can ruin not only your life but the lives of your family members.
Econ 201's solution is to punt on the issue and start doing calculus, because the economics orthodoxy was developed by heartless market neoliberals and computer scientists, and they can't really rationalize it in human terms. You literally have to go to grad school to un-learn all this shit.