Wednesday, 1 March 2017

why economic recession is good for people -recession,recession and its causes,recession and the Nigeria economy,

 One definition of recession says : An economic recession is typically defined as a decline in gross domestic product (GDP) for two or more consecutive quarters. Okay,simply put,we can say that economic recession is a situation whereby there is a decline or a fall in major source or sources of national income. In this way,there will be limitations in cash flow,scarcity and high rate of foreign currencies,and scarcity of locally made produce,and fewer importation of goods. This no doubt would  bring a lot of problems to any society. But why would we say here that recession is good for people? Let's find out why economic recession is good for people:

In abundance of plenty,there tends to be abusiveness in everything. People waste goods  and spend unnecessarily. Why? Because, whatever they want,is always within their reach. recession is good for people because,it will surely help people to spend wisely and avoid wastefulness.

Reset is another advantage of economic recession. By reset,we mean recession can make you go back to living a normal life style,due for normal humans. 

Recession is time to turn around and make necessary adjustments and changes. It's like someone who has been on a wrong path of life,and he couldn't turn a new leaf because,it seems that everything he does will always be successful. Then, something happens that changes the situations for him- a wind comes,blows,and shatters all that gives him pride. To bounce back,he has to adjust himself,stop living extravagant life style, and begin living a normal life style again.

The same is what recession does for people and society at large. Recession makes a nation to see where and what their loopholes have been without their knowledge all the while,and get them corrected. If an opportunity presents itself for positives readjustment,will you say it is bad? That is why economic recession is good for people!!!