U.S. Economy Shrinks at 4.8% Pace, Signaling Start of Recession

Re:U.S. Economy Shrinks at 4.8% Pace, Signaling Start of Rec... by SpicyLemonZest on Wednesday April 29, 2020 @11:29AM (#23020389)

In many parts of the world, what the original comment describes is simply a normal day; the only reason Americans typically do better than that is our strong economy. We know what economies without strong quarterly profits and Ruby Tuesday look like, and they don't support the modern American standard of living.

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Re:U.S. Economy Shrinks at 4.8% Pace, Signaling Start of Rec... by inscionent on Wednesday April 29, 2020 @11:49AM (#23020617)

Now try to imagine an economy that values human capital over never end growth. We can do better, but it requires a different kind thinking.

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Re:U.S. Economy Shrinks at 4.8% Pace, Signaling Start of Rec... by SpicyLemonZest on Wednesday April 29, 2020 @12:09PM (#23020838)

We value neverending growth because it represents an increase in the amount and quality of goods and services people want. Most people I've seen talk about valuing human capital over neverending growth tend to believe everyone should live as well as the American middle class - I agree with that, but we won't be able to make it happen without more economic growth.

[ Parent | on HN ]