4 ms·
I think it would be more correct to say that we have cyclical crises because of debt, which is a function of growth.
by bpatel576 7y ago
I think it would be more correct to say that we have cyclical crises because of debt, which is a function of growth.
- pas 7y agoCycles arise in any complex/dynamic system. It's natural. Managing it should be natural too. Applying dampening on the amplitudes would help. That's basically the mandate of central banks. Growth is the consequence of population growth and technological progress and the process of specialization (comparative advantages). All three are in pretty much full force, so it's not just growth because greed.