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Jun
14
rpg asked:
I’m just wondering whether pundits and economists called it a “recession” or a “downturn” or other such euphemisms until long after it was over, when it was finally acknowledged to be a depression, or whether they called it a global depression right from the start.
Catherine
I’m just wondering whether pundits and economists called it a “recession” or a “downturn” or other such euphemisms until long after it was over, when it was finally acknowledged to be a depression, or whether they called it a global depression right from the start.
Catherine
Comments
Diane H on 17 June, 2009 at 11:16 am #
the stock market crashed in 1929.
By 1931 it was called a Depression.
It is pretty serious when people have no food, or anything else.
Be thankful.
JR on 18 June, 2009 at 4:13 pm #
The Oxford Dictionary of 20th Century words says the term ‘depression’ for a severe slump in economic activity was first used in 1934. The term ‘depression’ was first used in 1793 in an economic sense, but it was not used alone, instead it was used in expressions such as “depression of trade.” Not sure when the the adjective “great” was added to describe the 1930’s depression, but I would guess it was probably added years after it had ended. The word depression is an old word, dating back to the 14th century.
