this post was submitted on 09 Sep 2023
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the_dunk_tank

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[–] Gosplan14_the_Third@hexbear.net 51 points 1 year ago

Recessions, financial crashes and the like have been happening ever since Capitalism has been formed, as late as 1637 and since the industrial revolution to the expansion of the system worldwide, they have consistently happened on average once a decade.

Even just taking the post-war US

1948-1949

1953-1954

1957-1958

1960-1961

1969-1970

1973-1975

1980; 1981-1982

1990-1991

2001

2007-2009

2020

Both in times of Keynesian spending-driven capitalism and monetarist wage-braking capitalism. Not to mention how recessions were avoided in times of growth, such as the pre-Lehman Brothers speculatory bubble in real estate or the Biden administration throwing Europe to the wolves currently.