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22.
*noun*; prolonged economic crisis characterized by drastic (i.e., >20%) decline in output, reduction in employment, and deflation. Other technical conditions include a liquidity trap and "permanent" (i.e., persisting in many sectors for several quarters) failure to reach equilibrium.

Usually the word "depression" (when referring to economics) is used to refer to the Great Depression, although in fact there were eight incidents of a global depression between 1815 and 1922. These were
--- 1815-21
--- 1832-33
--- 1837-44
--- 1854-57
--- 1867-68
--- 1876-79
--- 1893-96
--- 1920-22
In addition, there have been many localized depressions, panics (e.g., the 1907 Panic {USA}, followed by the Mexican Depression of 1908), and recessions.

DIFFERENCE BETWEEN RECESSION & DEPRESSION

The technical distinction between a recession and depression can vary, although economists usually agree on which is which. In Keynesian economics, a depression is defined by the existence of a flat liquidity-money (LM) curve (which means that interest rates have no influence on people's determination to hold their wealth as cash); and/or a nearly vertical investment-savings (IS) curve (which means interest rates have no influence on the willingness of entrepreneurs to expand/continue operations).

In contrast, a recession is a much less drastic event. Interest rates still have influence on investment and liquidity, and there is no deflation. Conventional fiscal policy and monetary policy, combined and in moderate doses, can restore full employment.


Neoclassical economics/New Classical economics defines a recession as a shift in people's income/leisure preferences as the result of a technology shock. The technology shock sharply reduces the returns to labor, so workers are paid less and many withdraw their labor from the market. In a depression, the technology shocks are compounded and cause a permanent change in the production function; large numbers of enterprise are no longer viable.


More generally, a recession involves the downward phase of a routine business cycle; these typically occur every three-seven years. A depression represents a partial collapse of the industrial system, and a comprehensive collapse of the financial system.
From 1929 to 1933 the U.S. price level fell 25 percent. Many economists blame this deflation for the severity of the Great Depression. They argue that the deflation may have turned what in 1931 was a typical economic downturn into an unprecedented *sic* period of high unemployment and depressed income.


N. Gregory Mankiw, William M. Scarth, *Macroeconomics: Canadian Edition*, 2nd ed. (2003) p.318
by Abu Yahya March 07, 2009
 
23.
a horrible black hole with seemingly no escape as you get sucked in deeper. Death is like a gift that will never come and no matter how hard you try, you can't prove to everyone else that your not going to commit suicide.
writing depressing poetry at midnight and a life that's a lie is all you have when depression is around
by ihatelifebutnotyou May 21, 2009
 
24.
A symptom of a sick and hyper-materialistic society. The reason for this is that not everyone buys into the materialism as they grow up, thus they feel commonly disjointed from the rest, particularly after a horrible event that shakes up their perception of reality to another perception that is actually more accurate. However, at that time, the person will most likely not have the emotional/intellectual maturity to understand this 'new' reality, thus they are overwhelmed by emotions. While people plunge downward, in our society, most others refuse to help/react stupidly and end up making things much worse. During such a time of ghastly realization, one needs to be close to others who are going through similar ordeals, but such free thinking is often discouraged and the affair is too stigmatized for most to help with it.

Depression is not a 'medical disorder'; this has merely been invented to absolve others of responsibility and facilitate an easier, more smooth return to the status quo. Most people have trouble understanding people who are depressed, thus it is easier for them to say that they have some kind of 'condition' rather than making an attempt to genuinely understand them. The same goes for a psychiatrist; they are merely there to return the sufferer back to the status quo, whilst depression is often the beginning of a path to intellectual cynicism that transcends any 'normality'. Much of the reason that depression is far more common in current times than a hundred years ago is because many people run to technological outlets to avoid their problems, hence they are distracted, miserable and at the same time very confused.

Depressed people are commonly more disgusted by the 'norms' and anything sensationalist, but often are not given a sanctuary in which to learn/heal and often instead have nonsense shoved in their faces. Depression is beatable but requires a strong willpower, a great deal of thought, and a change of attitude. Many who have had severe depression at a point in their life can be great empathizers.

The theories that depression is caused by a 'chemical imbalance' are nothing short of nonsense; the brain does chemically adapt to changing circumstances, but since it is influenced by the metaphysical in this manner, it must be treated the same way. By psychiatric logic, being happy for an extended period of time is also a chemical imbalance.
Jake was deep in depression; but after two years of struggling, he finally pulled himself out of a rut and found himself not a teenager, but a man.
by Shadow Creator September 03, 2007
 
25.
an emotional state classified by feelings of sadness, hoplessness, guilt, confusion, worthlessness, anger. sufferers usually also feel exhaustion, emptiness, lack of motivation, and lack of enjoyment in things that in the past would have been enjoyed. thoughts of suicide/death may be experienced. feelings can be caused by a chemical inbalance in the brain, or can follow a traumatic/tragic life event. recurring depressive states/feelings that last for 2 weeks+ may be a sign of major depressive disorder or clinical depression.
her depression kept her from being capable of things she usually enjoyed in life. she spent most of her time alone and had a hard time getting out of bed some days.
by Maygen August 24, 2006
 
26.
The worst emotion you could ever feel. Every day becomes a living hell and you wonder if you have a purpose on this earth and why you should even be alive anyway. Depression will cause you to be on the edge of tears every minute of the day, and you eventually just stop caring about everything. Relationships suffer, friendships end, and suddenly you feel alone and there's no one but depression to keep you company. Sometimes depression is mistaken for melodrama, and the person who you think is crying for attention is actually screaming on the inside. Depressed people wish they could end the agony, but can't because there aren't many alternatives.
Depression usually doesn't have just one cause. It's a whole load of little problems that pile up after an unspecific length of time(depending on the problems, and how long you've kept your feelings bottled up inside) and eventually grow to become unbearable. You feel trapped and you want out but there's no way out, and every single simple everyday task like waking up and going to school becomes futile in your mind.
Just as I was reading these definitions for the same word, there were tears rolling down my face. Looks like I've got depression again. This is pathetic.
by definitelyworthless March 19, 2011
 
27.
Something which someone goes through because of difficulties they are having in life.
People stereotype 'goths' of having depression. Not all 'goths' have depression. Anyone could have it. Don't stereotype.
"She was suffering from depression, so she went and saw a councillor to release all her feelings and anger."
by Bloody Moments May 10, 2005
 
28.
A state of mind that causes one's view of themselves and/or their surroundings to be degrading towards themselves. might be caused by a chemical imballance in the brain, but not always. Almost every person goes through a depressed state, but those who reside in depression more often than not must seek medical attention and counseling. If one person is depressed, it is advised to help them in any way you can. It will be greatly appreciated by the person, as it will give them a reason to go on, and it will give them a person to fall back on when they become depressed once again
Person1: Please....help me.....
Person2: *hugs and comforts person1*
by Boxymoron February 15, 2005