Recession

[m42]

A recession is typically defined as two consecutive quarters of negative growth.

Despite declines in economic growth, we've yet to see a text book recession. The word "recession" has been used with more frequency these days to describe the current state of our economy.

How would you define a recession?

[kerrin]

GDP is not a good measure for the health of an economy. The standard definition of a recession is based on GDP and only describes symptoms of a recession and tells us nothing about its driving forces.

My definition of recession would be from Frank Shostak:
...a process whereby business errors brought about by past easy monetary policies are revealed and liquidated once the central bank tightens its monetary stance.

For more wisdom on the topic from economist, Frank Shostak, read this outstanding article. (http://mises.org/story/808)

[xceedbd]

there r lot of way to define recession but only true is that it is time for self developement with ethically !