supernova
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Mon Jan-21-08 04:27 PM
Response to Reply #2 |
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Edited on Mon Jan-21-08 04:27 PM by supernova
Recession ---> Depression is only a matter of degree.
Recession, I think, you have slower or no growth over a business cycle or two.
Depression is not just a slow down, but an actual significant contracting of several sectors over not just one but several business cycles.
I'm sure there's a more academic definition out there, but that's my working definition.
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