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I would if it were true. Recessions occur with economic markets. All economies in the world today use some form of capitalism. Either state run or mixed. Therefore, I still stand by my statement. If you can find a current example of a recession occurring in a non capitalist country, I will humbly apologize. I don’t have to be correct. But I’m not going to bow while you denigrate a correct statement.
Edit: After discussing this with my son, he said I’m wrong. So I’m sorry and apologize. I didn’t specify the present in my comment. That’s what I meant. But I understand that historically there have been other economies with recessions.
Edit 2: It seems my apology was premature. After further reading, I found the term was coined in 1929. Which places it firmly under, you guessed it- capitalism.
Before then, economic declines were called financial disaster or slumps.
Did I say “disaster,” “slumps” or “extended negative growth?”
Don't play semantics. Take the L.
You’re late. Another user did what you couldn’t. I took the L, but not from you.
I’m gonna break it down for future reference.. My statement:
The other user moved the goalposts by bringing in non-capitalist countries. I excluded mixed economies and state run capitalism because that is still capitalism. They had to reach back in history to find examples. Those examples were:
So my statement was still true.
Another user gave good examples when recessions did exist. Those examples were socialist (albeit some could be considered mixed economies).
This makes my statement fallacious, and therefore, an L. This is not about my feelings, or winning and losing. It’s about logic and truth.
Also, from a Linguistics professor: