Depression

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Related to the Depression: The Dust Bowl, the Great Depression

Depression

Period when excess aggregate supply overwhelms aggregate demand, resulting in falling prices, unemployment problems, and economic contraction.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Depression

A particularly long and/or deep recession. While there is no technical definition of a depression, conventionally it is defined as a period featuring severe declines in productivity and investment and particularly high unemployment. During the Great Depression, for example, GDP in the United States dropped 12% between 1929 and 1930 and a further 16% the following year. Likewise, unemployment rose to more than 25% nationwide and higher in some places.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

Depression.

A depression is a severe and prolonged downturn in the economy. Prices fall, reducing purchasing power. There tends to be high unemployment, lower productivity, shrinking wages, and general economic pessimism.

Since the Great Depression following the stock market crash of 1929, the governments and central banks of industrialized countries have carefully monitored their economies. They adjust their economic policies to try to prevent another financial crisis of this magnitude.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.

depression

see BUSINESS CYCLE.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

depression

a phase of the BUSINESS CYCLE characterized by a severe decline (slump) in the level of economic activity (ACTUAL GROSS NATIONAL PRODUCT). Real output and INVESTMENT are at very low levels and there is a high rate of UNEMPLOYMENT. A depression is caused mainly by a fall in AGGREGATE DEMAND and can be reversed provided that the authorities evoke expansionary FISCAL POLICY and MONETARY POLICY. See DEFLATIONARY GAP, DEMAND MANAGEMENT.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
Swet's discussion of the culture of local radicalism explores the political options available to Kiez inhabitants during the Depression. Despite its attempts to present a more militant image, Social Democracy failed to gain electoral ground from its main competitors, the German Communist Party and the rising Nazi movement.
To help students understand the stock market crash of 1929, the Great Depression of the 1930s, and how the Depression flattened the U.S.
Once the individual is feeling better, it is important to continue the medication for 4 to 9 months to prevent a recurrence of the depression. Some medications must be stopped gradually to give the body time to adjust, and many can produce withdrawal symptoms if discontinued abruptly.
And sometimes, depending on severity, the depression needs to be treated regardless of cause.
Sinai School of Medicine in New York City, agreed that people with the depression shouldn't wait for it to go away.
To investigate and understand how working-class families survived the Depression, Baillargeon interviewed thirty French Canadian, and therefore Catholic, women who were married, housewives, and residents of working-class districts in Montreal in the years between 1929 and 1939.
Doctors tend to miss the diagnosis of depression and even when they treat it they often treat it with sedatives which may make the depression worse.
He wrote that the depression he called his "beast" followed him abroad and at home, never leaving him alone.
The Depression Adjective Check List (DACL) (Lubin, 1965) was used in this study to assess patient mood.
This pattern held after the team accounted for factors that could have influenced whether a patient formed a therapeutic alliance, such as sex, the severity and length of the depression, childhood abuse, and anxiety symptoms.
Also, the majority of our participants, since they had had the condition for a number of years, probably had passed through the depression stage of the grieving process.