3 ms·
The growth was the recovery of the population. the shrinking is not the growth phase, that's the recession. initially there were not enough people to work, to p
by pas 5y ago
The growth was the recovery of the population. the shrinking is not the growth phase, that's the recession. initially there were not enough people to work, to produce, to care for animals, to plant seeds, to harvest, to clean the ditches, to fix roofs, etc.. waste was enormous, crops spoiled, there was no demand and no supply, markets collapsed.
Then a recovering (growing) population meant that the previous level of economic activity was reached.
This is why some misguided people think that war is good, and it's "necessary", and that "we are overdue". But that's a complete fallacy. Those years have been lost. Yes growth was drastic, but that's hardly any consolation. Just like with COVID19. Yes, mRNA and other new vaccine vectors and tech grown a lot, but the whole economy went to shit otherwise. (Even if the recovery was again fast and even somewhat unexpected, because this time states stepped in and provided okay-ish fiscal and great monetary interventions.)