The correction came within hours. But the damage was done. Andrew Lansley, shadow health secretary, discovered there are better ways to extend a political career than discussing the merits of a downturn. Labour claimed it was “shameful” for him to say that “on many counts, recession can be good for us”.
But was the real problem his failure to give more than one example? Shouldn’t he have gone further and made a comprehensive case? Don’t all economies, just like politicians, need a correction once in a while?
As politicians are unwilling to recognise the full worth of an economic slump, we will. Behold six good things about a recession. See it as an electoral platform for the inveterate optimist, or a pro-cyclical election pledge card. Read more