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Preferred term

economic disasters  

Definition

  • An economic disaster involves either the widespread disruption or complete economic collapse at the national, regional, or global level. Economic history has been marked by cyclical fluctuations in the business cycle characterized by booms, panics, and busts. [Source: Encyclopedia of Disaster Relief; Economic Disasters]

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https://concepts.sagepub.com/social-science/concept/economic_disasters

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