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by hikingsimulator
1263 days ago
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In economic theory, it is seen as a fact of nature -- moreso the evidence of economic cycles of varying lengths. So in a sense, yes, one could consider it to be healthy -- like an economic animal shedding some fat. But I wouldn't personally. Recessions have deep cultural, social and political impacts that, if not dealt with properly, lead to long lasting adverse effects: rise of extremisms, lower social mobility, increased intergenerational poverty and so on. Because of 2008, millenials lost about 5 years of savings, skill accumulation, etc. they will never earn back. |
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