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
Every Aspect of my Order (as First-Time customer) was actually very good, nice. .I ordered a white drinking mug with a Red background with text. would recommend this Site again.
so cool! u can make sarcastic stuff too. i put: sarcasm: being an absolute asshole
Like the mug for my daughter, but didn’t notice that I had color choices when checking out. The yellow was pre-set so I got that color. Would much rather have selected a different color.
Cute, well-made mug! Exactly like the photo. I can't wait to give this as a gift this Christmas!
The description of a person by their names is the realest I’ve ever come across
Mug looks great and everything is spelled correctly.
I love my mug! 💘
the photo is all you need to know.
It’s pretty damn cool
It was a really good hoe mug!!!!!
Exactly what I was hoping for! Great product
My coworkers see all the cups I order from you, and this one is already one of their faves
Just what I expected. Merchandise looked just like it did online. Showed my friends and even they loved the cup! Plan on ordering more merchandise from you guys. Thanks. KLDS
Astounding Mug. I found this Mug in a dark time, the time when I needed a mug the most. I went onto google.net and found this truly amazing piece of craftsmanship. Manny Heffley came out of my computer and started to gyrate, before hopping out completely and eating my asshole. It felts so good, I started shaking and moaning, rapidly convulsing on the floor. Manny Heffley slowly crawled into my, hiding in my womb in order to store his power for 12 months and evolve to the form of "Baby 2". Thank you, Urban Dictionary. This mug changed my life.
Looks great and quick delivery
very good quality, wasn’t broken or anything and was a good gag gift !
I gave it to her today. And she loved it said it was her to the T
The Printing wasn't very sharp, but it's good enough.
It was a surprise gift for someone and she absolutely loved it!
This was sent as a gift to my grandson, who lives in another state, so I never saw it. However I asked him as follows: "Just checking ... their request for a review shows an aquamarine mug ... it was supposed to be purple (eggplant, they called it). Was it purple?" Then he said: "It was purple! And thank you I love it haha Sent from my iPhone"
Review Details
Pro Customization
Create unique products with your own words and definitions
Live Preview
Personalize Your Design
Debug: Product Metadata
| Key | Value (click to copy) |
|---|---|
Copied! |
Return Policy
Made Just For You
Each product is custom-printed with your unique text, making it truly one-of-a-kind.
Defect-Free Guarantee
If your product arrives with printing defects, damage, or quality issues, we'll send you a free replacement.
Custom Orders
Due to the personalized nature of your order, we don't accept returns for change of mind or sizing issues.
Questions about your order? Contact our support team for assistance.