Rescession without depression?
The more I hear, read, think about it, the more I love this recession. Consider this: web2.0 is the child of the 2000 blip. What would a real, deep recession give birth to? Collective economies (rent / share vs. buy), unleashed human capital (shift from mums at home to equal partnership at home and at work), agile resource management. Out of necessity comes ingenuity. The stampeding bulls of the last few years have made it all but impossible for innovation to get a foothold – “if it ain’t broken” etc. It is broken, we know it, but as long as the economy expands – however artificially, no one will listen. Well, now they have to. Or at least they will, once they realize that “restoring consumer confidence” is just not going to happen without a shift in producer culture.
Yet there’s a dark side we can’t forget. Along the way to a more efficient, robust and sustainable economy, a lot of people are going to feel real pain. The question of just how much is a lot is the line between recession and depression.