I came across this artcile a couple of days ago and I was rather intrigued. I have been focusing on the positive social aspects of the recession in the immediate benefits I can see around me however in this report it talks of how the recession is needed, for the long term, to “clean the fat out of the system”. Suggesting that this is all part of a healthy process like a detox for money almost challenging the system to improve or fail. And if we look back to the first seriously economic down turn in the form of the deep depression of the 1990’s we can see now that instead of the workers becoming homeless and suicide rates rising we have become better equipped. Now there are support systems and a fall back net, that is the welfare state that in America Obama is planning to strengthen further giving pay outs to the middle classes to help them as well as dealing with the loop holes in health care insurance that have lead to fat cat companies draining money from the people who need it most in their most desperate times.
So all in all this is going to sift through the economy of the countries make them reassess their actions which has already began. It is also aiding globaslisation forcing the world together for example the nationalising of the banks like Santandar which is qucikly snapping up failing banks the most recent being Bradford and Bingley.
To end with an old cliche what doesn’t kill us makes us stronger.. lets hope this is the case!
