- Depression (economics), a sustained, long-term downturn in economic activity in one or more economies
- Great Depression, a severe economic depression during the 1930s, commonly referred to as simply the depression
- Long Depression, an economic depression during 1873–96, known at that time as the Great Depression
Read more about this topic: Depression
Other articles related to "economics, economic":
... Welfare economics is a branch of economics that uses microeconomic techniques to evaluate economic well-being, especially relative to competitive general equilibrium within an economy as to economic ... It analyzes social welfare, however measured, in terms of economic activities of the individuals that compose the theoretical society considered ... Accordingly, individuals, with associated economic activities, are the basic units for aggregating to social welfare, whether of a group, a community, or a society, and there is no "social welfare ...
... Polanyi in his work The Great Transformation, argues that the term 'economics' has two meanings the formal meaning refers to economics as the logic of rational action ... The substantive meaning of 'economics' is seen in the broader sense of 'economising' or 'provisioning' ... Economics is simply the way society meets their material needs ...
... Economics has been subject to criticism that it relies on unrealistic, unverifiable, or highly simplified assumptions, in some cases because these assumptions simplify the ... The field of information economics includes both mathematical-economical research and also behavioral economics, akin to studies in behavioral psychology ... mainstream economists such as Keynes and Joskow have observed that much of economics is conceptual rather than quantitative, and difficult to model and formalize quantitatively ...
... Constrained optimization plays a central role in economics ... The Lagrange multiplier has an economic interpretation as the shadow price associated with the constraint, in this example the marginal utility of income ...
Famous quotes containing the word economics:
“Religion and art spring from the same root and are close kin. Economics and art are strangers.”
—Willa Cather (18761947)
“The animals that depend on instinct have an inherent knowledge of the laws of economics and of how to apply them; Man, with his powers of reason, has reduced economics to the level of a farce which is at once funnier and more tragic than Tobacco Road.”
—James Thurber (18941961)
“Womens battle for financial equality has barely been joined, much less won. Society still traditionally assigns to woman the role of money-handler rather than money-maker, and our assigned specialty is far more likely to be home economics than financial economics.”
—Paula Nelson (b. 1945)