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Right, but calling it an "economic downturn" confuses the issue in the same way not including infant mortality does. The important thing to realize here is that
by beatpanda 11y ago
Right, but calling it an "economic downturn" confuses the issue in the same way not including infant mortality does. The important thing to realize here is that the economy is growing, i.e. more overall wealth is being generated. That enables you to ask the question -- if there's more wealth being generated but most people in society are seeing their wealth and income stagnate or decrease, what is going on, and why?
- dmix 11y agoWell in that context the next question should be does growth need to be distributed evenly for the economy to be considered 'healthy'. But for individuals such as the person mentioned in the article this is less relevant, they shouldn't make financial decisions or life choices as if everything is good because the macro-level is seeing positive growth.