What is difference between recession and depression?

[Good-Person]

Many experts define both of these terms differently. According to experts, depression is worse than recession. This is because recession is a temporary period that may not last for a long time. On the other hand, depression can bring serious consequences. So, how do you define them?

 

[Riberet19]

Many experts define both of these terms differently. According to experts, depression is worse than recession. This is because recession is a temporary period that may not last for a long time. On the other hand, depression can bring serious consequences. So, how do you define them?

I think that basically this can be differentiated by the duration of the crisis and how deep the stock markets fell, if we look at how long the great depression of 1929 lasted, it extended until after the Second World War, leaving a devastating economic context, Recessions tend to be shorter and with less pronounced stock market falls.

As official economic data shows, Daw Jones fell 89% from historical highs during the Great Depression, a true financial apocalypse.

 

[Heatman]

To the best of my knowledge, an economic depression is the same thing as economic recession but the only difference is that the former (economic depression) is the worst part of the latter (economic recession).

An economic depression can be seen as a recession that lasts longer than three years where there's a consistent fall in the economic growth, employment and productivity.

 

[Good-Person]

To the best of my knowledge, an economic depression is the same thing as economic recession but the only difference is that the former (economic depression) is the worst part of the latter (economic recession).

An economic depression can be seen as a recession that lasts longer than three years where there's a consistent fall in the economic growth, employment and productivity.

There are many people who may define these terms quite differently according to the circumstances they may be facing. For example, we all know that the Covid-19 pandemic period was one of those times when many businesses failed to gain momentum and they experienced recession. For some other companies, it mnight be a really horrible period and they may define it as great depression period.

 

[Heatman]

There are many people who may define these terms quite differently according to the circumstances they may be facing. For example, we all know that the Covid-19 pandemic period was one of those times when many businesses failed to gain momentum and they experienced recession. For some other companies, it mnight be a really horrible period and they may define it as great depression period.

Well, whenever a country have been in an extreme recession that have lasted for about 4 or more years that have leads to a drop in real gross domestic product (GDP) of the economy in at least 10% in a particular year, the country is definitely in the phase of depression.

 

[Kane]

The magnitude of depression is higher than recession. Generally speaking, depression is 2 X or 3X or even 10X of a recession. WE might experience multiple recessions in a decade, but we will see few few depression in our life time

 

[Heatman]

Seriously, I don't understand what the government of our country is doing to the extent that they will allow the recession that we have to be getting to the point of being in the state of depression in our economy. Things are no longer working at all for almost all the average citizens of the country except for them who are in politics and enjoying the public funds available to them.

 

[Frank]

I think that basically this can be differentiated by the duration of the crisis and how deep the stock markets fell, if we look at how long the great depression of 1929 lasted, it extended until after the Second World War, leaving a devastating economic context, Recessions tend to be shorter and with less pronounced stock market falls.

As official economic data shows, Daw Jones fell 89% from historical highs during the Great Depression, a true financial apocalypse.

Economic depression will always mess up a lot of things up and that is something that I won't even want to see it happening in my country. We are moving towards an economic recession and for that fact, I am pretty worried about how long that is going to last too.

 

[Dice]

A recession is like a small economic problem that lasts a short time, maybe a year. It means less money for people and businesses.

But a depression is much worse. It's a big, long-lasting economic disaster. People lose jobs, businesses fail, and the economy stays bad for many years. That's what I think.

 

[Heatman]

A recession is like a small economic problem that lasts a short time, maybe a year. It means less money for people and businesses.

But a depression is much worse. It's a big, long-lasting economic disaster. People lose jobs, businesses fail, and the economy stays bad for many years. That's what I think.

What you have in mind about economic recession and economic depression are spot on in what they both mean. An economic recession is still at the early stages of the economic breakdown in a country's policies, it doesn't used to last too long but when it goes on longer than it should, then the depression of the economy is at hand.

 

[MaxMass]

The difference between a recession and a depression is that a recession is much more severe and longer lasting. Additionally, the effects of a depression are far reaching and linger long after the economy begins to recover.

 

[Heatman]

The Greatest Depression we have seen in world's economic decline began in 1929 and spanned through 1939 which was 10 years. It resulted in harsh fundamental changes in economic institutions, economic theories and macroeconomics. This great depression started in USA but spread throughout the whole world. There was decline in economic output, massive unemployment and severe deflation in every corner of the world.

 

[Riberet19]

The Greatest Depression we have seen in world's economic decline began in 1929 and spanned through 1939 which was 10 years. It resulted in harsh fundamental changes in economic institutions, economic theories and macroeconomics. This great depression started in USA but spread throughout the whole world. There was decline in economic output, massive unemployment and severe deflation in every corner of the world.

and even in many countries it lasted longer than until 1939 because right after the depression the Second World War began which worsened the state of the economy, the economy is a very complex subject and there are many things that differentiate a depression from a recession, but what is clear is that one of the main factors is the amount of time that said crisis lasts to differentiate them from depression and recession.

 

[Heatman]

and even in many countries it lasted longer than until 1939 because right after the depression the Second World War began which worsened the state of the economy, the economy is a very complex subject and there are many things that differentiate a depression from a recession, but what is clear is that one of the main factors is the amount of time that said crisis lasts to differentiate them from depression and recession.

Yeah, that's very correct. The Second World War that began right after that turned the economic situation from worst to being impossible. Everything went to a full halt. I would say that the world have been through a lot but have recovered quite well. It's why I don't entertain any talks that suggests 3rd World War. We might not survive it.

 

[Riberet19]

Yeah, that's very correct. The Second World War that began right after that turned the economic situation from worst to being impossible. Everything went to a full halt. I would say that the world have been through a lot but have recovered quite well. It's why I don't entertain any talks that suggests 3rd World War. We might not survive it.

A third world war at this moment would leave the planet in ashes, the presidents and political leaders themselves know this perfectly, ,If not, we would have already gotten involved in said war a long time ago, on the other hand it would be a financial apocalypse if that happens, because if the economy It is currently fragile, with a war of such caliber we would all go bankrupt, and then we would live another depression

 

[Heatman]

A third world war at this moment would leave the planet in ashes, the presidents and political leaders themselves know this perfectly, ,If not, we would have already gotten involved in said war a long time ago, on the other hand it would be a financial apocalypse if that happens, because if the economy It is currently fragile, with a war of such caliber we would all go bankrupt, and then we would live another depression

With the kind of weapons of mass destruction that most countries have in nuclear bombs, there wouldn't be any economy left because everything and everyone will be blown back into stone age. Take a look at the little one that took place between Russia and Ukraine to see exactly what we are going to face globally with a 3rd all out World War.