If we exclude mixed economies and state capitalist countries we are left with basically looking at historic record so let's do that.
There were recessions in 15the century England, not a capitalist economy at all! There was also a recession in Rome in 33 AD as well if you want to look back further. This is just from 5 minutes of googling.
It is not possible to have an economy that never contracts, just to have one where it happens nowhere near as frequently as our current systems and with far better outcomes for most people.
That wasn’t a “recession.” They called it the Great Slump. (source).
"The Great Slump was an economic depression" the first paragraph on that Wikipedia page once you fix your link.
My comment concerns recessions. Which was coined in 1929. It is semantic. But I’m defending the truth of my comment.
Whatever helps you sleep at night I suppose
Thanks, I was making an offhand indictment of capitalism controlling most all market economies in the world.
If we exclude mixed economies and state capitalist countries we are left with basically looking at historic record so let's do that.
There were recessions in 15the century England, not a capitalist economy at all! There was also a recession in Rome in 33 AD as well if you want to look back further. This is just from 5 minutes of googling.
It is not possible to have an economy that never contracts, just to have one where it happens nowhere near as frequently as our current systems and with far better outcomes for most people.
That wasn’t a “recession.” They called it the Great Slump. (source).
"The Great Slump was an economic depression" the first paragraph on that Wikipedia page once you fix your link.
My comment concerns recessions. Which was coined in 1929. It is semantic. But I’m defending the truth of my comment.
Whatever helps you sleep at night I suppose
Thanks, I was making an offhand indictment of capitalism controlling most all market economies in the world.