depression
*noun*; prolonged economic crisis characterized by drastic (i.e., >20%) decline in output, reduction in employment, and deflation. Other technical conditions include a liquidity trap and "permanent" (i.e., persisting in many sectors for several quarters) failure to reach equilibrium. Usually the word "depression" (when referring to economics) is used to refer to the Great Depression, although in fact there were eight incidents of a global depression between 1815 and 1922. These were --- 1815-21 --- 1832-33 --- 1837-44 --- 1854-57 --- 1867-68 --- 1876-79 --- 1893-96 --- 1920-22 In addition, there have been many localized depressions, panics (e.g., the 1907 Panic {USA}, followed by the Mexican Depression of 1908), and recessions. DIFFERENCE BETWEEN RECESSION & DEPRESSION The technical distinction between a recession and depression can vary, although economists usually agree on which is which. In Keynesian economics, a depression is defined by the existence of a flat liquidity-money (LM) curve (which means that interest rates have no influence on people's determination to hold their wealth as cash); and/or a nearly vertical investment-savings (IS) curve (which means interest rates have no influence on the willingness of entrepreneurs to expand/continue operations). In contrast, a recession is a much less drastic event. Interest rates still have influence on investment and liquidity, and there is no deflation. Conventional fiscal policy and monetary policy, combined and in moderate doses, can restore full employment. Neoclassical economics/New Classical economics defines a recession as a shift in people's income/leisure preferences as the result of a technology shock. The technology shock sharply reduces the returns to labor, so workers are paid less and many withdraw their labor from the market. In a depression, the technology shocks are compounded and cause a permanent change in the production function; large numbers of enterprise are no longer viable. More generally, a recession involves the downward phase of a routine business cycle; these typically occur every three-seven years. A depression represents a partial collapse of the industrial system, and a comprehensive collapse of the financial system.
The Urban Dictionary Mug
amazing I will buy this. it will be my child. I WILL BE KING OF THE 0w0
I loved this mug! when i drink out of it it always has a horrible stench and honestly i dont mind because i love smelling it. my boyfriend thinks i should throw it away because he says "its has lead poisoning" but i cant get rid of it. when my mom died i bought her a mug that said "deceased" because i thought it would brighten the moment when i open presents at her funeral (it worked). but if your looking for something to buy, you should really get one of these mugs. they are cute, nerdy, and remind me of my dead mother!
Yay. I got a mug... And it has the most accurate definition of my name ever lmfao. The quality is great and it's totally worth the price. For me, at least :)
The accuracy is real! My husband and I have 3 daughters. Our last name is Staats, in UD was spot on! Unbelievable! I got it to my husband just in time for Father's Day! Lol!
love it sm, gives a clear understanding of the word every sip thankyou
I nutted in the mug. Loved it!!!!!!!!
I fucked this mug so hard, It became pregnant
Exactly as I ordered it. Shipping was perfect, got updates, accurate date of delivery, and no damage. This is a gift for my little brother.
i was put on a list for buying this mug. 10/10 would recommend
Great customer service and was a fun surprise for an inside joke to a coworker. 😊
Nice cup! Seems to be a quality piece.
This mug reminds me of when I was happy. When I was a wee little winker enjoying the wonders of this life!
The, "Wenomechainsama" Mug has amazing quality and an amazing definition! Can't belive my child's generation is so funny! Love - Sharen, 55, On facebook !<3
this mug reminds me of my cat, it does nothing and cant pour me a nice cup of joe. It is horrible, it doesn't tell nor does it allow me sip on it. It stops me from drinking from it, its like the mug is trying to torture me.
love this mug! Goes perfect with the Morbius meal.
Had no idea my name had a definition!!
Bought for an inside joke. Perfect.
i love the schizophrenia mug its amazing
This cute mug reminded me of a quote from an obscure biography I found quite by accident in a tiny hole-in-the-wall 2nd hand shop in Portland, ME in 1987: 'The Life and Times of Lazarus of Bethany'. Quote: " We are all walking wounded held together by the scars of our forbearance and the charity of our sisters and brothers." Truer words have never been said.
Love it . Its me down to a T
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