In a society that demands employment, 50% unemployment is a death-sentence. That's half your population draining the subsidies dry and raising taxes on the working half. Suddenly both sides are angry. Prisons become overburdened, people dead in the streets, Governments overthrown, CEO assassinations, etc.
Sure, in a fantasy land where things don't cost money and land isn't 'owned', 50% unemployment could be ok. Unfortunately that's not us yet.