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>Such an economy could avoid the instability of our current economy with its cyclical booms and busts. From what I understand (not an economist, but quoting wh
by AussieWog93 5y ago
>Such an economy could avoid the instability of our current economy with its cyclical booms and busts.
From what I understand (not an economist, but quoting what I've heard from them), much of the boom-bust cycle can be dampened by limiting debt.
- jwmhjwmh 5y agoI'm not an economist either. It just seems the business cycle has been a persistent feature of capitalist economies.
- AussieWog93 5y agoPerhaps look into Australia. We have much tighter regulations than the US or UK when it comes to lending, and we've largely avoided recessions, including in 2008. COVID got us, but that did have a physical reason behind it.