The first interesting concept was how a recession can be beneficial in the long run by weeding out weak businesses like a "harsh winter" would for animals in the wild. This is a different way to think about hard economic times. I (along with many other people, I'm sure) previously looked on economic downturn as a purely negative thing that is always to be avoided. However, looking at recession like an economist, it makes sense that weeding out weak businesses would not be negative because if even poorly run businesses can be successful, there will be a ton of wasted resources and we won't be able to progress.
The second concept I found interesting was how much public perception influences the reality of the economy. Ever since I was little, my parents tried to explain the concept of a recession to me and how people don't spend their money because they don't think the economy is good which makes the economy worse. I always thought that all the media outlets should just report that the economy was up and running well again all at the same time and it would be a sort of self fulfilling prophecy. I still think that kinda. I'm gonna start a non-profit recession-busting rumor mill news station. I'll spread noble lies for the good of many.
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