That depends. If your workload exceeds the amount of available memory, you will start "thrashing" the disk and that can make a system un-responsive.
If you happen to launch a large application, or start working with a big file, unused pages will be evicted to disk to make room and, after some slowdown, the system should become perfectly usable again. YMMV
On OSX, I don't know a way, but I can't recall the last time I had to reboot due to RAM/swap issues, even when I was developing apps on a 4GB Macbook Air. I guess memory compression, which is enabled by default, helps here. Most OSX systems have very fast SSDs as well.