The economy is not a system. It is a description of society in terms of material wealth and prosperity. The real system at work in the economy is the pricing mechanism.
When someone says the economy has broken down, it isn't that the economy as a system has broken, it is that society has realized that the pricing system has been broken and must now suffer in terms of wealth and prosperity as individuals in society must reallocate resources in response to the realities of the relationship between costs and benefits; that individuals must respond to the pricing mechanism being fixed.
The recession and depression are the solution to a broken pricing mechanism.
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