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A recession is a widespread decrease in economic activity. Such decrease usually causes many employees to be unemployed. A very serious recession is referred to as a depression. Causes for recession have been tied to excess inventories, decrease in consumption (attributable to fears about the future, for instance), lack of innovations and new capital formation, and random shocks.
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The worst recession on record is that of the 1930's. About one person out of 4 (or close to 25%) was unemployed. The hardship was more than just a lack of income, and, for some, consisted in broken lives and families. |
- 瀏覽次數：1971
