The Boom-Bust Cycle

Thought for today : Is the cycle of Boom and Bust (then followed by Boom again) necessarily a bad thing?

Companies do collapse in the Bust part of the cycle & large numbers of inefficient companies are created in the Boom section, but does this lead to more diversification of technology - like the way evolution is accelerated by mass expansion and disaster periods causing diversification, the boom produces massive variety of new companies and technologies and the bust cuts away the dead wood produced to leave just the useful ones.

So potentially this cycle could drive Technology & companies forward faster than a stable economic state, which could be more stagnant.

Disclaimer : I'm just trying to think of a positive perspective on this - I have no actual economic qualifications (and possibly don't know enough about evolution either) ;-)