In economics, a recession is a business cycle contraction, a general slowdown in economic activity. Macroeconomic indicators such as GDP, employment, investment spending, capacity utilization, household income, business profits, and inflation fall, while bankruptcies and the unemployment rate rise. Recessions generally occur when there is a widespread drop in spending, often following an adverse supply shock or the bursting of an economic bubble. Governments usually respond to recessions by adopting expansionary macroeconomic policies, such as increasing money supply, increasing government spending and decreasing taxation. In a 1975 New York Times article, economic statistician Julius Shiskin suggested several rules of thumb for defining a recession, one of which was "two down consecutive quarters of GDP". In time, the other rules of thumb were forgotten. Some economists prefer a definition of a 1.5% rise in unemployment within 12 months. In the United States, the Business Cycle...
What is Globalization? Its is term if you type it in Google, you will get more results if you type Globalisation than Globalization. Difference in English language you see? Nowadays there is a new type of English known as Hinglish or Indian English. Well, that is not the point. The world is a Globalised platform. However the seaming success of Globalization is its Failure. The seaming success of Globalization is America!!Which is a rich country between India & America? or China & more »
Economic crises pattern shows that the downturn will be soon in 2015. If the graph is observed 2002 was a period of huge recession and stayed quite long with job cuts and no market sustaining its hold. then it was seen in 2008 and the situation go more »