Why 40,000 People Die for Every 1% Increase in Unemployment - The Big Short

The video explores the claim that a 1% increase in unemployment leads to 40,000 deaths, as mentioned in 'The Big Short'. It examines the 1981 study by Harrison and Bluestone, which attributes deaths to factors like heart disease and substance abuse. A recent medical study suggests a lower death rate, highlighting differences in methodology and timeframes. The video discusses the implications of unemployment in 2020 and compares the situation in the US with countries like Denmark, emphasizing the role of social welfare.

What is the significance of the 63% increase in the risk of death when people lose their jobs?

How does the text explain the relationship between unemployment and the death toll during economic downturns?

What factors contribute to the difference in unemployment effects between the United States and countries like Denmark?

What implications does the text suggest about the long-term effects of unemployment on individuals and society?