Gross Says a Recession Would 'Do the Economy Some Good'

The video discusses the impact of low interest rates on savers, banks, and markets, arguing for a normalization of rates to support business models like insurance and pension funds. It highlights the historical context of yield curve flattening and its potential to signal economic slowdowns or recessions. The speaker suggests that such slowdowns can be beneficial, akin to clearing deadwood in a forest, promoting long-term economic health through concepts like Schumpeter's creative destruction and Minsky's theories.

In what way does the speaker suggest that a growth slowdown or recession could benefit the economy?

What concept does the speaker mention that relates to the idea of 'creative destruction' in economics?