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Economic recession

01.31.2010

Johndoe234 Johndoe234 is offline

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Economic recession

For the nation's Bureau of Commercial Research, "recession is a big decline in industrial activity lasting more than a few months". John Maynard Keynes, the prominent economist, states that there are "animal spirits" as driving elements for a recession. An example where these "animal spirits" take over, is when consumers lose interest in buying products, their confidence in their future wanes and no one cares about their productivity at their job.

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