Hacker News new | ask | show | jobs
by hikingsimulator 1263 days ago
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.