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Is recession all bad and Boom all good?

An economy has four economic phases i.e : Boom, Recession, Slump and Recovery. Boom is sometimes considered to be most preferable and recession all bad. Is it true?

hello..can i help you?
11 July 2013
There are positives and negatives to each part of the economic cycle. For example, whilst a Slump is pretty unpleasant in terms of job prospects, unemployment can lead people to start their own businesses and create new jobs.
12 July 2013
@ hyperion Yes you are right. There are positives and negatives of both states
12 July 2013
Good for places like Primark, the Pound Shop etc., not so good for upmarket expensive places.
Mandy S.
24 August 2013
As with most issues in economics there are pros and cons of booms and busts. However on the whole booms are typically seen to be positive and busts negative due to the impacts on consumption and employment that they both have. A major aim of macroeconomics (the part of economics to do with the behaviour of the economy as a whole) is to reduce the severity of busts and to achieve sustainable economic growth. Booms by definition cannot be sustained and lead to bust, thus slower more sustainable growth is preferable to boom, but the period of boom is preferred to bust. An economist with an interesting take on bust is Frederick Hayek who saw them as an opportunity for the economy to restructure and strengthen its foundations. en.wikipedia.org/wiki/Friedrich_Hayek
28 August 2013
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