Can anything Good come out of Recession?
82What's good about Global Recession?
Are you tired of the Pundits' Parade yet? Expert after expert in the media outglooming each other with ever more dire predictions of deep Global recession. Underlying all of this is an unchallenged assumption - Recession is a Bad Thing. But is it true?
Clearly, for those (and there will be many) who lose their jobs, their savings, even their homes, recession is bad news. (Or at least it is in the short term, for who knows what good can come out of bad?) But looking at it Globally, maybe the recession is something to welcome? It's certainly not impossible that some good will come out of it. Before dismissing me as a raving lunatic, please bear with me while I look for the bright side of crisis.
The Environment
Already, the oil producers are talking about cutting production (to try to get the barrel price rising again). This can only be good. The more oil we leave underground, the less we pump into the atmosphere. And the more that will be left for us when we finally discover what it's really for. Maybe this recession will finally force us to reduce carbon emissions on a Global scale.
Oil is only part of it. As family credit dries up and people have less spending power, consumption of all resources is bound to decrease. Fewer new cars, smaller engines, maybe a trend towards electric vehicles, motor cycles and even bicycles. Less unnecessary air travel, fewer luxury goods.
For decades, over-production of unnecessary consumer goods, coupled with aggressive advertising, has driven our over-consumption. This might be an opportunity to reverse the pattern and let moderate consumption define the scale of production. Gaia will start to love us again.
The Environmental Credit Crunch
Environmentalists are now using a financial model to try to persuade people of the damage we are doing to the planet. The idea is that if rich countries consume more resources than their natural sustainable recovery, they can only do so by going into 'resources debt'. That is, they 'borrow' resources from poorer countries. If this 'eco-debt' is allowed to grow too big (like the National debt), sooner or later, a crash is inevitable.
For those who like left-field theories, there's a fascinating notion that Nature, through natural human greed, has 'intentionally' engineered an economic crash in an attempt to reverse the growth of consumption and so stave off a potentially far more terrible ecospheric crash. At the very least, we should not merely try to get economic growth back on course, since the course was always towards disaster. We should rather be taking stock with a view to living within our planet's means. These ideas are well summed up in this article on the BBC Website.
Personal Wellbeing
The credit squeeze is a great incentive to get out of our cars and walk. It saves money of course, but it's also the best form of exercise, especially if starting from a low fitness base. There's also the incentive to eat a better diet. With thyme in our hands, who needs fast food? Seriously though, in the West, a whole generation has forgotten how to buy and cook real food or how to make wine and beer. But I won't preach about that because it's been done to death.
Societal Wellbeing
There are other more subtle advantages of walking that are not often acknowledged. When ordinary people reclaim the streets, the streets become safe and pleasant for everyone. And not just the streets. The town squares, village greens, river and canal banks, woodland paths. All the places we've given over to what we used to call ne'er-do-wells. Through walking, society gradually changes back from individuals in boxes (moving or stationary!) to convivial communities in the public space. Our cars and fortress houses have diminished and dehumanised us. There may be an opportunity to reclaim some ground here. To be honest, I don't think it is likely to happen, because it would require more imagination than our ruling classes are capable of bringing to play. All the political, commercial and media focus is going to be on mending the broken money engine and getting manic consumption back on the rails. But if the engine proves as broken as I hope it is, there may yet be a chance for informed common sense to prevail.
Alternatives to Yachting and Golf
Finally, for any CEO/banker/stockbroker casualties of the recession who might not know how not to spend money, here is my suggestion:
Read a book - contrary to what you might think, not all books have titles like 10 Secrets of Success. Try something completely different, like Under the Greenwood Tree. The language may stump you at first. 'Tree', for example, doesn't have to be an organisational chart. It can also mean a large plant. No, not like an oil refinery. Can somebody help me with this idiot??
Thanks for reading!
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Comments
Great Perspective! I really appreciate that you chose to look at the brighter side instead of the constant "gloom and doom" view.
Bravo!
Remember the Victory Gardens of WWII? Let's hope people will turn every patch of ground into veggie gardens. Living healthy with less can be very enrichening.
Thanks for this enlightening hub, Paraglider. So much sanity in your thoughts!
Cheers to all.
Pgrundy - thank you. Living in the Middle East, apart from the heat, walking in the inner cities is a pleasure. There's virtually no street crime and I'm sure a good part of the reason is that everyone is out and about. When I go back to UK, most people are scared to walk after dark. A travesty, really.
Pointer's View - welcome. You're a new visitor to my hubs. I work in a TV News channel, so I've seen enough doom and gloom to last me the rest of my life!
Vitaeb - thanks for the visit.I can't claim to remember the Victory Gardens, but I know about them. My father (who taught PE) always said that apart from the genuinely malnourished, people were generally fitter during the depression era than any time since.
Great and timely hub! I've found myself thinking about how the current state of affairs, could lead to a renaissance (rebirth or revial of culture, skills, or re-learning of things forgotten or left behind) and how exciting that would be. Also, how necessary that is, if we are to survive. Less is more.
Thanks Jerilee. I would like to see it happen too, but any such 'revolution' is going to have to come from the grassroots because the elites are only interested in restarting the money machine.
Walking's good. Cycling's good too for covering amazingly long distances fairly quickly. And public transport, buses and trains. I can imagine a great future for all of us, but then, I always have. Let's hope the money train stays off the rails and we can enjoy a cleaner, brighter future. I'm definitely with you on this one!
Hi Chris - cycling is probably the quickest way to travel in most cities. I used to commute 12 miles each way to Central London and was always faster than neighbours who drove or relied on the tube. But where walking scores is in its community value. It quite literally brings people together. (So does a rush hour train, but not in the same way!)
I've been thinking along the same lines for a while Paraglider. Every cloud has a silver lining as they say, and I think the pace of life here in the West might well change for the better as a result of the credit crunch.
Well said paraglider. I've been having similar thoughts. Overabundance of material comfort tends to alienate people. I remember a time in Ireland when there was a big snowstorm for which they were ill prepared. Not a single snowplow to be had in all of leinster. There were fears that bread & milk might be in short supply, as lorries were slipping off the roads. All work was suspended. Neighbors who hardly knew eachother came out to help eachother. I being american knew some ice tricks such as putting kitty litter on slippery ice and thawing frozen locks with hot water. It was nice and quiet and there was this moment of neighborly bonding that I found quite satisfying.
Families may get closer together, having to battle as a unit
Amanda & HD - I believe in trying to make the best of a bad job. And in this case, it's just possible that we'll come through to something better. But let's hope that good projects like desert irrigation, clean drinking water, etc. in the third world are not casualties of this recession.
I think comfort is an illusion. Discomfort is the reality, but comfort is merely a lack of discomfort. Maybe ;)
That sounds a bit like the saying about banging your head against a brick wall. It's lovely when you stop!
Exactly. But you can only stop. You can't unbump your head. So comfort is simply no discomfort. QED :)
These are great suggestions for all. I walk most of the time, so to be honest I think I have saved quite a bit of money because of this. A few years ago people used to say I would save so much money if I drove, but over time I began to see people say the opposite with the rising gas prices. Now people are actually planning their trips, and even walking more to get things at the store. I think this trend is for the better. Also, I agree with you reading books can be a wonderful source of information, or just a source of pleasure. People can save even more money and natural resources if they go the the local library to check out books as opposed to driving to the local bookstore to buy books they may only look at once. I love to buy certain books of of course, but the library is another great tool for those who want to interact with their fellow human beings and save a little money.
Thanks SweetiePie. Maybe if enough people get out and walk, from that little thing the bigger goal of rediscovering community and society might become a possibility. Fingers crossed :)
Paraglider,
We think similar. I also try to write positive hubs about this recession, along different lines though. Thanks for the great hub.
Thanks Benson - I read one of your positive thinking hubs. I remember agreeing then :)
Great hub, Paraglider! I like the hub on making wine also--I'll need to try that! We have a neighborhood pub/pizza place that we can walk to, which I really enjoy, but the health benefits are quickly canceled out when we get there. :) It's still better than driving, though! And I agree that good things will come out of this--I don't think we will go back to unquestioning, rampant consumerism because I'd like to believe that this financial crisis is being accompanied by a shift in consciousness and a greater focus on what matters, like love, kindness, connections, and treating our planet in a caring and sustainable manner.
There are a couple of questions that came up for me while reading this... what do you mean about discovering what oil is really for? And were you only able to come up with one suggestion for what CEOs/bankers could do in place of yachting and golfing? ;)
Thanks for this enjoyable read!
Simple living means simply living the way one wants to, is it not? :)
Consumerism is one way of verifying progress and thus cannot be easily discarded, I believe.
Anyways, your hub is unique and informative. Thanks, Paraglider.
Paraglider, all the things you outline as possible results sound good. Now, wouldn't it be awful if some sort of government intervention might actually forestall these results?
Dearest Paraglider!!
What a lovely Hub!! Yes, there are usually silver linings to life challenges if we would just stop long enough to be still!!
Thank you for sharing!! I see a rainbow now!!
Blessings always, Earth Angel!!
Thanks for bringing the positive impacts of the recession to the front.
Economic growth is important, but economic sustenance is even moreso. This recession is making us look at the cost unregulated growth has inflicted at the expense of maintaining economic viability (so blind we were even a few short months ago).
vitaeb's comment struck me right away. Like you, I'm not old enough to remember the Victory gardens, but I do know the stories from my family. Not only was it a time of better physical fitness, it was also a time of community found through sharing with those who had less.
We screwed up over these recent decades. By we, I mean America. (Why didn't we learn the lessons from the greed of the industrialist tycoons of the 19th century the first time around?) The rest of the world followed us, whether by example or through the economic opportunities played out on international markets (in a way, those two might be the same thing).
So, it's time to scale back and find the positives in our situation, but what about the world's poor and starving? How much can they be expected to scale back? Things will only be worse for them.
Wonderful words Paraglider and equally fine sentiments.
I think you’re adequately acquainted with my feelings about capitalism. Personally I hope this “crisis” kills and buries it forever.
The transition will be a painful one for many of us to a new/old way of thinking and living. The continuation of business as usual would probably be fatal for us all.
I particularly love your specific reference to Gaia. That’s something I hope to see and hear a lot more of from many more people in the future.
It’s all about the difference between being a parasite or a symbiont.
paraglider...i would walk a mile to read your stuff...i feel similiar about trying to jump back on that ban wagon of consumption...good read...pylos26
Hi good explanation about good recession. I had visited your hub its very informative.
Melissa - thanks for the read. I used to annoy a friend of mine by insisting that walking to the pub served god better than driving to the church. But I was young then. Now I just do and don't say ;) Your questions: oil is an energy rich but irreplaceable resource. We can use it to manufacture all sorts of goods, not just cheap plastic bags. But simply burning it into the atmosphere is wasteful. From the time it was discovered, people thought of it as liquid coal, but it has more potential than that. And yes, I could offer more to the CEO brigade, but I lost interest at that point! I'll probably go back and edit that tail section.
Quicksand - yes, provided your 'wants' do not incommode others too much. We can't all 'simply live' in palaces, after all :)
Aya - that is my main concern, that government and government owned media will persuade us that we need to rebuild the old consumer engine and do it all again. These people are the problem, not the solution.
Earth Angel - Follow your rainbow always. With you, I'm preaching to the converted, but I always welcome the support :)
Sally - not just America. Europe wasn't far behind. But at least Europe (or parts of it) has a social infrastructure which seems to be lacking in (parts of) USA. For me, it's not yet clear how this will affect some of the poorer countries. It's important that we don't stop development programmes like drinking water and irrigation, but it's also possible that the price of staples like rice and wheat might fall, to everyone's benefit. I think it's all about the will to make it happen.
CWB - I agree with you about capitalism though I think the 'evolution' of capitalism into consumerism has blurred the distinction between left and right. The fact is that consumerism is now the engine that separates the corporate class from the rest of society, and the 'colour' of the politics is less important than before.
Pylos - Thank you. If enough of us don't jump, the ship might leave empty and never come back. Let's hope!
Nancy - thanks for the visit. Hang on in there and keep hoping :)
:) Thank you for the add :)
Paraglider - it's great to read about hope when everything seems to be focussing on the hopeless. I think when you've reached the tipping point, it's time to think phoenix-like and shedding the old order, embrace the new. That BBC article makes you really think about how imperative it is that we take stock quickly - the problem is, will we?
A wine man? Just read your wine hub. Wine making and cheese making are two hobbies I enjoy - I must try your recipe - sounds great - I do a raisin wine too, besides the regular grape :)
Hi Shalini - The best outcome would be a grassroots revolution, a refusal to play the consumerist game any more. But very powerful people have a vested interest in keeping society brainwashed into believing their type of 'growth' is the only way. Now if everyone just stayed home and made wine...
Maybe this recession will teach us to tighten our strings and the age old adage money saved is money earned could be applied.
There is already a movement called "Black Friday" that opposes too much consumerism esp during Thanks Giving when people go on a spending spree (Copy the whole link for the article to be displayed which is by written Mark Morford)
http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2007/11/28/notes112807.DTL&feed=rss.mmorford
As Gandhi used to say we have enough to meet our need but not enough to satisfy our greed.
...and cheese! The French really do have the best ideas when it comes to food!
I do hope that grassroots revolution happens!
Countrywomen - thanks for the link. Gandhi was ahead of his time, as we're beginning to learn.
Shalini - I've never made my own cheese. Maybe that's my retirement project :)
Books are created from trees, which must be cut down to create the paper and binding. So, down with books. :) Read online instead!
Livelonger- I like to curlup on the sofa and read a book instead of online (I already spend enough time in front of my monitor both at work and at home)
I can't believe I just approved a comment containing the words "down with books" :)
Heehee! The reality that *existing* has a negative environmental impact.
The one big benefit of a recession is people feel a little more desperate and get creative. During the big economic boom, people were making money flipping houses - no real value. Now they'll have to put their ingenuity to the test, and create value in new ways. :-)
It's pretty drastic to decide to stop existing, but deciding to reduce the footprint by consuming less while existing is within everyone's grasp.
An ingenuity revolution - I like it!
nice, i like the topic.......
Thanks Mariane :)
Love this hub!
I am becoming increasingly infuriated with all the media doom, gloom and idiotic scaremongering over this recession.
I truly believe it is a timely opportunity to reclaim and revitalise our communities, to take stock and come up with creative solutions for the ills that plague our society. We've tried rampant consumerism, and it seems to have let us down . . . lets move on!!
kiwimeg - with your positive attitude, we should all move on! Thanks for commenting :)
In yesterday's Financial Times, senior columnist Martin Wolf wrote: "[T]he idea that a quick recession would purge the world of past excesses is ludicrous. The danger is, instead, of a slump, as a mountain of private debt—in the US, equal to three times GDP—topples over into mass bankruptcy ... Globalisation would spread the catastrophe everywhere. Many of the victims would be innocent of past excesses, while many of the most guilty would retain their ill-gotten gains. This would be a recipe not for a revival of 19th-century laissez faire, but for xenophobia, nationalism and revolution."
http://www.wsws.org/articles/2008/oct2008/usec-o30
vive la revolution!
CWB - I've never believed a quick recession is on the cards. The recent paroxysms in the markets are, I think, the tip of the iceberg. The beginnings of panic at the idea that the game is over. From what I understand, all these packaged and leveraged debts will have to be unwrapped and will then come home to roost. Also, even if it were possible to identify and prosecute all the most guilty and confiscate their estates, it still wouldn't amount to much. Even their collective personal wealth could only be a drop in the ocean alongside the leveraged gambling debts. I think we need to re-invent both society and the money system along more moderate lines, but suspect we will have to go through some very ugly times before anything resembling a cooperative spirit has a chance of emerging. As always, thanks for the comments.
Great Hub! Great to see that you are looking at the lighter side of things.
Thanks Ray - you have to stay afloat somehow :)
Thanks for all the useful information! Great article
Thanks LLC!
Nice Hub, Paraglider.
I particularly liked your comment about being able to enjoy life without fear. We have zero crime here, and it is so refreshing after the paranoia of the UK. I can go out for a drink and walk home without worrying about somebody trying to pick a fight.
They accuse the Middle East of being uncivilised!
Hi Sufi - Street crime here in Qatar is also virtually zero. And in the UAE and Bahrain. And it's not just in the 'good' areas. You can walk anywhere, through alleyways, across demolition sites. People own the streets. Westerners often dismiss this as fear of the strict laws, but that's not my impression. There just isn't a culture of violence or gangs.
The same in this area of Greece (Athens is a different story!). It is just not in the culture here. The key is that people still look out for each other - you are part of the community instead of living within four walls, watching reality TV. I am quite happy for my partner to walk across Sparta alone at night, something that I would never allow in Witney, a similar sized market town.
The good thing about recession: things can only get better!
Eventually, but this is a deep one, and better doesn't have to mean more of the same when it's over.
In my article I have fully described what is recession? Recession is an economic phenomenon. No matter what you do, the Bearish trend cannot be reversed, more about this are fully explained in my hub under Indian Share Market, Bearish Share Market.
Great Work. Very current issue.
easegiri - my article is more about transcending economics, not by defeating the market but by learning to ignore it and concentrate on conviviality. Economists and politicians find this difficult but it doesn't have to be.
Jawad - thanks for the read & comment :)
it all seem to be about power! whoever controls the power controls the money
Musicman - yes, or maybe it's the other way round?
I have been looking for a way to increase my income from nil since I finished on a project in the construction industry. Unfortunately, like those of you whose employment rotates around project work, job security isn't always there and when economic crisis occur you better pray your project isn't due to end for at least another few years or make sure you're guaranteed in writing a slot in the next up and coming big thing.Since the end of 2008, I have been going from site to site looking at different ways in which an income can be achieved. I found out that there are quite a few different methods, but some were more to my taste than others. In addition to what Mina has said you may find there are other opportunities that are more to your liking. I've noted a few in my blog.http://paulmdsmoney.blogspot.com
Who's Mina?
This is by far-- the best hub I have read- since joining here. I love the way you gave us some positive thoughts and saw a silver lining - but knew to show a bomb to get them to look. This writing is a great example of fine penmanship and thinking out side the box. I also visited your website, you are uniquely talented. We should feel blessed to read your writings without having to buy a book or pay for it!
Bless you, Sir. From a fellow poet
Tiara Designs - high praise indeed, thank you very much! Glad to have struck a chord :)
Paraglider ,thank you for articulating those thoughts so well ! I really enjoyed reading and pondering about this hub. In the states here we forever have been measuring our self worth by materialism and status . Because the suits on 5th Ave. are telling us that Is what life Is about , and we buy that concept ! Now that we are all going to have to live with a lot less ,I for one think Its great . It levels the playing field . And we can start to prioritize what Is really Important In life. Like maybe growing spiritually and more time spent knowing our neighbors .
We have gotten far too Impersonal . I was going to write an article of a similar theme , but now It has all been said very well.
.
Tony - I'd encourage you to go ahead and write your article. Everyone's slant is different and every push helps to counter the mass of 'party line' commentary about restarting the engine.
thanks you it is interesting
Congratulations for this great hub! Of course the recession will bring something good... This is part of a cycle that no one can avoid... We get to greedy (and that's human nature...) and suddenly after that fear comes... and we stop for a while... and that's good. Altough it affect everyone it also hits the ones that more contributed to it!
teleassistencia - thank you for your appreciation. I agree, such things are cyclic, but if this one bites deepley enough, as it might, it could break the cycle. We can only wait and see. And plan :)
Pirayan - thanks also - I missed your comment, till now.
teleassistencia - thank you for your appreciation. I agree, such things are cyclic, but if this one bites deepley enough, as it might, it could break the cycle. We can only wait and see. And plan :)
Pirayan - thanks also - I missed your comment, till now.
Good info i like it
Great hub. I think the recession will cause people to rediscover the simple pleasures in life . .like the countryside, good conversation with friends and a good book.. and realise that (out of neccessity) money isn't everything. We'll take time to value our children more, appreciate our health, friends, familty etc. The backlash against greedy financiers & bankers could even mean that it becomes seriously "uncool" to be a weatlhy capitalist! Now there's a thought ...
I hope you are right. The cpitalist class has had it all their own way for too long and made slavish consumers out of too many of us. Time to draw breath!
Hi Paraglider,
Offbeat!! Some thing new. Positive thinking. I rated this up. Enjoy!!
Thanks,
Jyoti Kothari
Thanks Jyoti. It's beginning to look as though nothing much is going to change, unfortunately.
pgrundy says:
8 months ago
I loved this hub. Your thoughts on this are similar to mine--I love what you have to say about walking here. I remember when everyone walked everywhere and it was so much nicer then. All this consumer choice we have now is mostly false choice. I'd love to see the U.S. at least go back to a simpler way of living. We are doing here in our house by default to adjust to the economic changes, and I like it better than when we were doing 'better'. Thanks for a thoughtful analysis of this otherwise scary situation.