Always wanting more. Why a recession may not be such a bad thing.

By the title you are probably thinking how could you possibly think that? But before I start I would like to say that I empathise with those who are and have been struggling  throughout this hard period. My aim is rather to provide a general overview to why continuous economic growth would not necessarily be best for us.

So wouldn't life be so good if we got more, more and more? Probably not, there inevitably needs to be a limit somewhere and good reason too. If for instance we just kept on growing what are the implications? By imagining a infinitely growing society, there would be greater and greater competition between individuals, so much so there would be a fiercely selfish society that would emerge. Ready to get that extra bit extra on offer, people would become obsessed and disillusioned with no real goal in life.

Following this, it would not only be working life that would be effected but also in our spare time. Continuous economic growth, as shown in the last decade before the credit crisis, would drive people consumerism madness. Without the realisation of risk people would spend without a second thought, saving would be non-existent and consumerism like work would proceed to take over our lives. Sometimes we do need that push back to push us back into reality.

Also, we have to consider that consumer products and growth does not come magically out of thin air, someone and something has to suffer. This would be our environment and developing countries that would suffer. Our quality of life would diminish as we push the lives of those who can be exploited are worked to the death, while our generosity to charities would decrease as we become ever more tight with our money.

Furthermore, while we call it the 'bad times' some of the best ideas and businesses have evolved out of the poor economic climate. Without it we would promote inefficiency as there's no need to innovate and improve. Though this may be short but an important point.

Finally, I shall end by saying that while no one likes the 'bad times', we wouldn't be necessarily better without them. Rather we should take these times as a lesson before we get caught up in the rush of a boom and not to forget that the bad times again may be round the corner. Therefore, growth, work and money isn't everything but it can be over prioritised in the good times and the bad.