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"[..] bubbles and recessions are 'abnormal economics' [..]" In my opinion, something that happen periodically and continually to a system can't be easily class
by RobertoG 9y ago
"[..] bubbles and recessions are 'abnormal economics' [..]"
In my opinion, something that happen periodically and continually to a system can't be easily classified as 'abnormal'.
I think 'inherent' would be a better word.
- alexanderstears 9y agoPerhaps, but it is important to recognize bubbles (malinvestment) and contractions are distinct from investment and expansion. I'm not convinced that recessions and contractions NEED to happen. I'd bet that they're more common in market based economies but I haven't seen anything that suggests they're critical to equilibriums as we know it.