People usually think recessions are bad. Are they in fact necessary? Akin to naturally occurring small forest fires…those are good otherwise there could be a mega fire.
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I don’t think they are necessary, but the way our government/politics works they are inevitable.
A government will always chose to have a fast expansion period because it produces wealth in the medium term, so for whoever is holding an elected position it will be positive even though this will result in a recession in the future (another person will have to deal with it).
So instead of having an average steady growth for many years, we(government) will chose to have a fast burst of growth followed by a period negative growth to average things out. So it is not really a bug but a feature.
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