Ethics & Public Policy Center

Recession and Depression

Published in American Governance on February 11, 2016



In common usage a recession is a moderate decline, and a depression a severe and lengthy decline, in total economic activity. There is no simple or commonly accepted definition of the difference, however, and both the causes and appropriate cures of recessions and depressions remain hotly disputed.

Click here (PDF) to access the rest of EPPC Lehrman Fellow in Economics John Mueller’s article “Recession and Depression” from American Governance (2016).

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