Business
Seven reasons not to freak out now we’re in a recession – Sydney Morning Herald
You’ve got enough to worry about. Don’t add to your list these new figures showing the Australian economy “suffering” its biggest fall on record.
4. It’s nonsense to say that economies have “suffered” in some way, as many are claiming. By now, I’m sure you’ve seen news reports stating the Australian economy has “suffered” or “experienced” its biggest decline in GDP on record. But think about it. Economies dont suffer: people do.
Granted, economies are, ultimately, just collections of people. But just because the value of goods and services produced by the people in one period compared to another has shrunk, it does not necessarily imply …
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