And yet it works
Maybe not, but when nobody is making profits, after a while everybody gets a permanent vacation
That's the flaw in simple linear extrapolation: You're assuming that nobody will notice and make adjustments. You really think that if Europe starts experiencing massive unemployment people won't start kicking up a fuss? That's silly, man. If including human considerations in economic policy is really that disastrous, people will notice and make changes.
History's a dynamic thing. Half a century ago Europe was in the dumpster economically compared to the US. It rebuilt and at the same time adopted enlightened social policies, and somehow still managed to achieve parity with the US...even while the US continued to grow economically. Nobody stood still. How could that have happened?