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Depression, Recession, and Stagnation

  • By: Dietmar Rothermund
  • In: Encyclopedia of Global Studies
  • Edited by: Helmut K. Anheier & Mark Juergensmeyer
  • Subject:Globalization, Social Policy (general), Cultural Geography

Depressions, recessions, and stagnations usually originate in the context of a national economy but then affect the global economy as a result of their transnational spread.

Growth—an increase in gross domestic product (GDP)—is assumed to be the norm for a healthy economy. ...

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