After every expansion, recession follows and it is a normal process.
While all Answers could be correct I feel that this one best fits your personal opinion. Out of the possible answers this seems also to be the most correct over all since while reading the options I thought of arguments against the statement.
Time has proven this to be the only one to be true.
We know for a fact that Industrial expansion absolutely impacts Luxury goods. It makes them more available to the common person. Previously things that were only for the rich, like cars, are now for everyone. I also think about Diamond Mining in how innovation has made them easier to acquire. Then we have outside forces manipulating that market keeping the prices up.
Prosperity is subjective. What one will find to be prosperous will not be what another finds to be so. Events in recent days and months in the USA and around the world are making me personally rethink what being prosperous really means, and in my opinion Money and Power have nothing to do with it.
Recession can happen even if the Consumers have total faith in the market. This has been proven so many times, and we keep forgetting. The 2008 House Bubble, it wasn’t the consumers; those buying mortgages that lost confidence; it was unscrupulous mortgage lenders banking practices that caused that. People were still buying property, just not those that realistically could not afford it.
Then 2015 Oil Crash. This hit me personally VERY hard. I am in Alberta Canada, when Oil went from over $100US a barrel to under $35US things were utter Chaos. What bad timing to call an election. We have been in recession since 2015, and it is not because anyone has lost confidence in Oil(it has so many uses)…it has everything to do with World Demand. Oil is the Coal of today. Coal ran the Energy Source of the world, Now It is Oil. We are one the Cusp of something new.
Imagine the Chaos and Recession, possible depression that could happen if a government is not a head of the game and it’s citizen embrace Bitcoin and Cryptocurrencies? Governments will Fall, and our western countries are at the worst risk of it.
As for Long-Last and Permanent Prosoperity…Impossible. The only way to make that happen would be to eliminate all change in the world, and that will never happen. Even if could account for all human nature, MOTHER NATURE does not have to play ball. I look at my home province of Alberta Canada and the Fort MacMurray Fires…the ENTIRE CITY evacuated!! (And heavens thank you no one died in that fire, not a single death due to the fire!) British Columbia is on Fire now. I remember July 31, 1987 Edmonton Alberta…BLACK FRIDAY. First ever suspected F5 Tornado ripped up the East side of the City, not that far from where we lived. (We never Know what life has in store for us or those around us, we can only do the best we can with what we have and try to do better. No one lies on there death bed wishing they spent more time at work)
Other than the idea that some Companies are TO BIG TO FAIL(if they are to big to fail, then they should fail/split up) where having to many eggs in one basket is a bad thing. No 1 company or even group of companies failing to deliver their products or services should cause a Recession. In a healthy vibrant economy there are many options for the same service and product that when one does fail there are others to pick up the business. Businesses rise up and fall all the time, it is perfectly normal in Capitalist Economy.
Wow, I wrote a small essay there. Please don’t grade me on that, lol.
At least, I can upvote your comment :) Really nice.