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    History of Big Recessions
    History of Big Recessions
    History of Big Recessions
    Ebook32 pages29 minutes

    History of Big Recessions

    By IntroBooks Team

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    About this ebook

    A recession is a decline in economic activity for a period of at
    least half a year. The world has seen several recessions of
    varying degrees. Every part of the human inhabitable world has
    experienced a recession at a point of history. Compared to the
    underdeveloped and developing countries, the developed nations
    usually fall into definitive recession. Some recessions are of long
    duration like the Great Depression, while some are less severe
    economic crises. There are many causes for a recession.
    Economists around the world use different techniques to predict
    the recession. Also, there are many indicators to establish an
    economic condition as a recession. A recession can have
    long-lasting impacts on human lives. It can affect different
    dimensions of society. There are also many economists who are
    of the opinion that recessions are a normal part of an
    economic cycle. Something that provides an opportunity to take
    remedial measures and bring in innovations.

    LanguageEnglish
    PublisherIntroBooks
    Release dateNov 10, 2019
    ISBN9781393777731

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      Book preview

      History of Big Recessions - IntroBooks Team

      History of Big Recessions

      IntroBooks #574

      readintrobooks.com

      Copyright © 2019 IntroBooks

      ALL RIGHTS RESERVED.

      Preface

      A recession is a decline in economic activity for a period of at least half a year. The world has seen several recessions of varying degrees. Every part of the human inhabitable world has experienced a recession at a point of history. Compared to the underdeveloped and developing countries, the developed nations usually fall into definitive recession. Some recessions are of long duration like the Great Depression, while some are less severe economic crises. There are many causes for a recession. Economists around the world use different techniques to predict the recession. Also, there are many indicators to establish an economic condition as a recession. A recession can have long-lasting impacts on human lives. It can affect different dimensions of society. There are also many economists who are of the opinion that recessions are a normal part of an economic cycle. Something that provides an opportunity to take remedial measures and bring in innovations.

      Summary

      A recession is a negative GDP growth for two consecutive quarters. Some recessions affect only some countries, while some are more global in nature. Early recessions in America can be dated back to 1785. The cause of early recessions was mainly the lack of strong currency. Loss of confidence in copper coins resulted in the panic of 1789. An embargo against Britain and France resulted in the recession of 1807.

      Post the Napoleonic wars, Europe and the US experienced recessions. There was a reduction in international trade. In the US, unregulated banking, hard currency deficits, agrarian land bubble, reduction of exports, etc. caused the recession. This period saw the establishment of Second Bank of United States which will lose its charter in 1836.

      Till 1863 there was no central banking system in the US. That

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