Commentary Another word has lost its traditional meaning. It’s the word recession, which is a postwar neologism in any case. The word depression—from the idea of depressed economic condition—became unsayable following the disaster in the 1930s. So the wordsmiths got busy and invented this new term based on the idea that the economy is merely…
What If We Define Recession Away?
July 19, 2022
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AnalysisBusiness & MarketsBusiness Columnistseconomic depressionNational Bureau of Economic ResearchNBEROpinionrecessionU.S. economyunemployment
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