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"It is not in any realistic sense a recession." It fits the definition of a recession. I guess you are arguing that the definition of recession should be chan
by greeneggs 11y ago
"It is not in any realistic sense a recession."
It fits the definition of a recession. I guess you are arguing that the definition of recession should be changed to use per capita GDP numbers. This isn't clear, however. From the standpoint of an investor, say, you want to invest in an enterprise that will grow. If your business is shrinking, it doesn't help you that it is growing per capita.
- WildUtah 11y agoA recession is a general failure of businesses across all economic sectors. That's what the word has meant for three centuries. Some modern witch doctors have literally made up arbitrary economic statistics and defined a particular pattern of those statistics to be a recession. I could define a recession to be stinky fermented soybeans and then Japan would always be full of delicious recession (mmm 納豆). You should not take either of those definitions too seriously.