> Most of the harm of unemployment is psychological, not material. Holding income constant, the employed are much happier than the unemployed.
This doesn't factor in that employed workers might be much happier in countries where they can work without the possibility of being fired at any moment for no reason hanging over their heads.
> Most of the harm of unemployment is psychological, not material. Holding income constant, the employed are much happier than the unemployed.
This doesn't factor in that employed workers might be much happier in countries where they can work without the possibility of being fired at any moment for no reason hanging over their heads.