In economics, a recession is a business cycle contraction, a general slowdown in economic activity. Macroeconomic indicators such as GDP, employment, investment spending, capacity utilization, household income, business profits, and inflation fall, while bankruptcies and the unemployment rate rise.
Recessions generally occur when there is a widespread drop in spending, often following an adverse supply shock or the bursting of an economic bubble....
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Quotations About This Subject:
- In a society of little economic development, universal inactivity accompanies universal poverty. You survive not by struggling against nature, or by increasing production, or by relentless labor; instead you survive by expending as little energy as possible, by striving constantly to achieve a state of immobility. ,
- If we can boondoggle ourselves out of this depression, that word is going to be enshrined in the hearts of the American people for years to come. ,
- So-called austerity, the stoic injunction, is the path towards universal destruction. It is the old, the fatal, competitive path. Pull in your belt is a slogan closely related to gird up your loins, or the guns-butter metaphor. ,
- Recession is when a neighbor loses his job. Depression is when you lose yours. ,
- Few can believe that suffering, especially by others, is in vain. Anything that is disagreeable must surely have beneficial economic effects. ,
- I see one-third of a nation ill-housed, ill-clad, ill-nourished.
