economic depression
Prolonged market downturn
An economic depression is a severe, prolonged downturn in economic activity—deeper and longer-lasting than a recession.
Depressions involve sharp declines in production, widespread unemployment, falling prices, and business failures.
The term most often evokes the Great Depression of the 1930s: The economic depression left a quarter of American workers jobless.
Being without paid work
- povertySevere lack of resources
- foreclosureLender seizes mortgaged property
- homelessnessLacking permanent residence
- breadlineQueue for free food
soup kitchen · eviction · destitution · joblessness · bank closures · layoffs · plant closures · shantytown
Prolonged economic decline
- contractionReduction in size
- slumpExtended period of decline
- slowdownReduction in pace
- stagnationAbsence of flow or progress
deflation · bust · downtrend · trough · negative growth · business cycle · market correction · industrial decline
Sudden violent impact
- collapseSudden structural failure
- meltdownCatastrophic loss of control
- panicUncontrollable sudden fear
- contagionDisease spread by contact
turmoil · bailout · default · bubble · bear market · bank run · market crash · financial crisis
Enforced economic stringency
- stimulusWhat prompts a reaction
- bailoutEmergency aid preventing bankruptcy
- deficit spendingExpenditures funded by debt
- quantitative easingAsset purchases to boost economy
fiscal policy · monetary policy · New Deal · relief programs · public works · government intervention · Keynesian · budget cuts
unemployment
Being without paid work
- povertySevere lack of resources
- foreclosureLender seizes mortgaged property
- homelessnessLacking permanent residence
breadline · soup kitchen · eviction · destitution · joblessness · bank closures · layoffs · plant closures · shantytown · Hooverville
recession
Prolonged economic decline
- contractionReduction in size
- slumpExtended period of decline
- slowdownReduction in pace
stagnation · deflation · bust · downtrend · trough · negative growth · business cycle · market correction · industrial decline
crash
Sudden violent impact
- collapseSudden structural failure
- meltdownCatastrophic loss of control
- panicUncontrollable sudden fear
contagion · turmoil · bailout · default · bubble · bear market · bank run · market crash · financial crisis · credit crunch
austerity
Enforced economic stringency
- stimulusWhat prompts a reaction
- bailoutEmergency aid preventing bankruptcy
- deficit spendingExpenditures funded by debt
quantitative easing · fiscal policy · monetary policy · New Deal · relief programs · public works · government intervention · Keynesian · budget cuts · spending freeze
- economic historystock market crash, Industrial Revolution, trade routes, gold standard, Silk Road
- ScandinaviaNorway, Sweden, Denmark, Finland, Iceland
- collapsecollapse, cave in, cave-in, fall in, give way
- Confederation EraArticles of Confederation, Constitutional Convention, Continental Congress, state sovereignty, interstate commerce
- Gilded AgeGilded Age, robber baron, robber barons, Carnegie, Rockefeller
- industrial declinedeindustrialization, factory closures, factory closure, plant shutdowns, plant shutdown
economic depressioneconomic boom
Sustained period of growth
boom · economic expansion · expansion · economic recovery · recovery
economic depressionprosperity
Good fortune, success
affluence · economic prosperity · golden age · wealth · abundance
economy, depression, economic, economical, economist, economists, depressions, economies, economically