Concept information
Preferred term
economic depression
Definition
- Depressions, recessions, and stagnations usually originate in the context of a national economy but then affect the global economy as a result of their transnational spread. Growth—an increase in gross domestic product (GDP)—is assumed to be the norm for a healthy economy. [Source: Encyclopedia of Global Studies; Depression, Recession, and Stagnation]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/economic_depression
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