Recessions are a feature of capitalism, not a bug

We are now in the midst of another economic downturn due to slowing growth in China, political turmoil throughout the world, dropping oil prices, and of course, the COVID-19 pandemic. A lot of people are scared.

But why are we fearing something that always happens every ten-ish years? After all, recessions are a feature of capitalism, not a bug.

And this is what we are told is the best system for a society. Yet every ten years or so, all these fears start coming out.

As someone who prefers to solve problems instead of letting them persist, perhaps so should society. Maybe we should try something else that doesn't result in people literally killing themselves because of lost jobs, wiped out savings and piling-up debt.

We always bail out the companies who get us to this position but we rarely help out the people who have to suffer from it. As MLK once said, "we have socialism for the rich and rugged individualism for the poor."

Companies die and come back all the time. When people die, they don't come back.

Maybe instead of letting all these people suffer and die so that a few people can get rich, we should make the economy work for everyone. Maybe then we won't have to live in fear every ten-ish years.