People like
@Raoul_Luke believe that part of "clearing the market" has to do with falling wages. No jobs, I can pay you less to come back to work. That means I can restart my business with lower costs. The great depression was probably the first time government tried to strong arm businesses into not dropping wages.
Back then there was no safety net, no unemployment, no SS. That was the ideal for the purist capitalist. Let the people at the bottom take the biggest hit. The downward spiral that followed was a disaster that cost lives.