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Journal of Economic Perspectives 23 (1), pp. 77–100. Paul Krugman (2008), The Return of Depression Economics and the Crisis of 2008. ISBN 0-393-07101-4. "The myths about the economic crisis, the reformist left and economic democracy" by Takis Fotopoulos, The International Journal of Inclusive Democracy, vol 4, no 4, Oct. 2008. United States ...
An economic crisis is a sharp transition to a recession. See for example 1994 economic crisis in Mexico, Argentine economic crisis (1999–2002), South American economic crisis of 2002, Economic crisis of Cameroon. Crisis theory is a central achievement in the conclusions of Karl Marx's critique of Capital.
A big financial crisis will accelerate the cuts and turn the recession into a potential depression. That is, of course, what happened in 2008. The effects of the emergence of balance-sheet constraints on spending and borrowing will, in brief, be revealed in the huge financial surpluses in the private sectors of crisis-hit economies." [6]
Morin's thinking drew on emerging concepts in complexity science and systems theory, emphasizing that modern challenges—economic, ecological, social, and cultural—cannot be treated in isolation. He argued that these crises interweave and amplify each other, creating a cascading effect if addressed piecemeal rather than holistically .
Paul Mattick's Economic Crisis and Crisis Theory (published by Merlin Press in 1981) is an accessible introduction and discussion derived from Grossman's work. François Chesnais 's (1984, chapter Marx's Crisis Theory Today , in Christopher Freeman ed. Design, Innovation and Long Cycles in Economic Development Frances Pinter, London), discussed ...
But economic experts have warned that Trump's dual-pronged approach could slow, or potentially harm, the administration's goal of ensuring that the U.S. maintains a competitive edge in artificial ...
An economic depression is a period of carried long-term economic downturn that is the result of lowered economic activity in one or more major national economies. It is often understood in economics that economic crisis and the following recession that may be named economic depression are part of economic cycles where the slowdown of the economy follows the economic growth and vice versa.
This two-quarter metric is now a commonly held definition of a recession. In the United States, the National Bureau of Economic Research (NBER) is regarded as the authority which identifies a recession and which takes into account several measures in addition to GDP growth before making an assessment. In many developed nations (but not the ...